Greenock Resources: Corporate Update

Greenock Resources Inc. (TSX VENTURE:GKR) ("Greenock")

Greenock is discussing cooperative strategies with Eurasian Natural Resources
Corporation (ENRC) to maximize the value of technical studies that have
demonstrated the significant economic value of the Kakanda copper cobalt
project.


The Kakanda area is located in the Democratic Republic of Congo in the Katanga
Province adjacent to major operating copper cobalt mine and plant known as the
Tenke Fungurume Project which is operated by Freeport McMoran Copper and Gold
Inc. and Lundin Mining Corporation.


Greenock completed and filed on SEDAR the Kakanda Copper Cobalt Project NI
43-101 Technical Reports dated September 16, 2006 and May 25, 2008. These
reports were completed by MPH Consulting Limited ("MPH") and incorporated the
results of the prior Feasibility Study completed for International Panorama
Resource Corporation ("IPRC"). IPRC engaged Bateman Minerals and Industrial Ltd.
of South Africa ("Bateman") in conjunction with Steffen Robertson and Kirsten
("SRK"), Dune and Dump Drillers (PTY) Ltd., Techpor Mining and Metallurgy Ltd.
and others to complete a full bankable feasibility study that was filed with
Gecamines the Congo State mining company. MPH completed additional sampling and
technical reviews updating the capital and operating cost estimates and
commodity prices of the technical reports to the noted dates. Greenock acquired
the rights to these prior technical studies through the acquisition of its
wholly owned subsidiary PTM Minerals (Cayman) Ltd. that had prior ownership by
IPRC.


District Gold Inc. ("District") has not met the conditions of proper notice or
deposited the option payment within the defined time period to exercise its
Buy-out option of the Needles property located east of Tonopah, Nevada as
defined by agreement. Greenock is evaluating its future strategy for the Needles
property that also includes discussions with District.


ABOUT GREENOCK

Greenock Resources Inc. is a Canadian based international mineral development
company that focuses on developing a portfolio of natural resource properties.
Shares outstanding: 33,139,470


Greenock holds a 100% interest in the Needles gold / silver property located in
the Arrowhead mining district of Nye County, Nevada. The property is
approximately 40 miles southeast of the Barrick - Kinross Round Mountain Gold
Mine. The Needles property has had historical underground mining for gold and
silver in the early 1920's.


This press release includes certain "Forward-Looking Statements" within the
meaning of applicable securities laws. Other than statements of historical fact,
all statements are "Forward-Looking Statements" that involve such various known
and unknown risks, uncertainties and other factors. There can be no assurance
that such statements will prove accurate. Results and future events could differ
materially from those anticipated in such statements. Readers of this press
release are cautioned not to place undue reliance on these "Forward-Looking
Statements". Michael Newbury, P.Eng., is the qualified person who has reviewed
this material on behalf of the Company. All dollar amounts are noted in Canadian
dollars unless otherwise stated in this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Greenock Resources Inc.
James S. Hershaw
CFO & Vice President, Corporate Development
(416) 603.7200
(416) 603.9200 (FAX)
jshershaw@greenockresources.com
www.greenockresources.com

Greenock Resources (TSXV:GKR)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024