Avidian Gold Provides Corporate Update
Avidian Gold Provides Corporate Update
TORONTO, ON / ACCESSWIRE / March 30, 2020 / Avidian Gold Corp. ("Avidian" or the
"Company") (TSX-V: AVG), an exploration Company with key gold assets in Alaska and
Nevada announces that due to the COVID-19 pandemic the Company has suspended all
activities and will in the short term focus on data analysis and strategic plans. Avidian's majority-
controlled subsidiary, High Tide Resources, has delayed commencement of the diamond drilling
program at the Labrador West Iron Ore Property located near Labrador City, Newfoundland &
Labrador. The program will be initiated once health concerns associated with the COVID-19
pandemic subside.
Drill permitting continues at Avidian's Amanita Gold project which is adjacent and contiguous to
Kinross's Fort Knox open-pit gold mine. The timing of the actual commencement of any drilling
program on this project will also be dependent on the COVID-19 situation and the ability to
work effectively in a safe and responsible manner.
David Anderson, Chairman and CEO states "Our first priority is the health and safety of our
employees, contractors and the communities in which we operate. Until the current situation
with COVID-19 subsides we could not effectively conduct a drill campaign in any of the
jurisdictions in which our projects are located, and we will only re-activate these programs once
the all clear is given by local, provincial/state and federal government authorities. In the
meantime, the Company has enacted prudent measures to preserve capital and will be well
positioned to return to active exploration in the months ahead".
The technical information contained in this news release has been approved by Steve Roebuck,
P. Geo., President of Avidian, who is a Qualified Person as defined in "National Instrument 43-
101, Standards of Disclosure for Mineral Projects."
About Avidian Gold Corp.
Avidian brings a disciplined and veteran team of project managers together with a regional scale
advanced stage gold-copper exploration portfolio in Alaska. Avidian's Golden Zone project also
hosts a NI 43-101 Indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t Au)
plus an Inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au). Additional
projects include the Amanita gold property which is adjacent to Kinross Gold's Fort Knox gold
mine in Alaska and the Jungo gold/copper property in Nevada.
Avidian is the majority owner of High Tide Resources, a private company, that owns the base
metal Strickland Property, the Black Raven gold property and an option on the Labrador West
Iron Ore property, all located in Newfoundland and Labrador, Canada.
Avidian is focused on and committed to the development of advanced stage mineral projects
throughout first world mining friendly jurisdictions using industry best practices combined with
a strong social license from local communities. Further details on the Corporation and the
individual projects, including the NI 43-101 Technical report on the Golden Zone property, can
be found on the Corporation's website at www.avidiangold.com.
For further information, please contact:
Steve Roebuck, President
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this news release.
Forward-looking information
This News Release includes certain "forward-looking statements". These statements are based on
information currently available to the Company and the Company provides no assurance that
actual results will meet management's expectations. Forward-looking statements include
estimates and statements that describe the Company's future plans, objectives or goals, including
words to the effect that the Company or management expects a stated condition or result to
occur. Forward-looking statements may be identified by such terms as "believes", "anticipates",
"expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking
statements are based on assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual results relating to, among other
things, results of exploration, project development, reclamation and capital costs of the
Company's mineral properties, and the Company's financial condition and prospects, could differ
materially from those currently anticipated in such statements for many reasons such as: changes
in general economic conditions and conditions in the financial markets; changes in demand and
prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political
and competitive developments; technological and operational difficulties encountered in
connection with the activities of the Company; and other matters discussed in this news release.
This list is not exhaustive of the factors that may affect any of the Company's forward-looking
statements. These and other factors should be considered carefully and readers should not place
undue reliance on the Company's forward-looking statements. The Company does not undertake
to update any forward-looking statement that may be made from time to time by the Company or
on its behalf, except in accordance with applicable securities law.
SOURCE: Avidian Gold Corp.