Canada One Completes Airborne Magnetic Survey at Abitibi East Critical Minerals Project, Timmins, Ontario; Grants Options; Engages Marketing Services
CANADA ONE MINING CORP.
#250 – 750 West Pender St.
Vancouver, British Columbia, V6C 2T7
CANADA ONE COMPLETES AIRBORNE MAGNETIC SURVEY AT ABITIBI EAST
CRITICAL MINERALS PROJECT, TIMMINS, ONTARIO; GRANTS OPTIONS;
ENGAGES MARKETING SERVICES
Vancouver, B.C., December 07, 2023 - Canada One Mining Corp. (“Canada One” or the
“Company”) (TSXV: CONE, OTC: COMCF ) is pleased to announce it has co mpleted an
airborne magnetic survey on the Abitibi East Critical Minerals Project (the “ Project”,
“Property” or “ Abitibi East ”) located 60 kms east of the prolific Timmins mining camp,
Ontario, Canada.
Abitibi East
The Property is located on the western end of the world-class Abitibi greenstone belt, central
to the Timmins Mining Camp (119 Moz Au and 337 Moz Ag historical production)1, the Kidd
Creek Volcanic Massive Sulphide (VMS) deposit (2.5 Mt Zn, Cu, Ag Proven and Probable)2,
and the Alexo-Dundonald nickel deposit (1,254 kt Ni, Cu, Co Indicated)3.
Mr. Peter Berdusco, President and CEO of Canada One, commented: “A property wide
magnetics survey is one of the best methods for conducting a property evaluation. The
survey is excellent for mapping covered bedrock geology . It can also identify areas of
alteration and highlight structures that may host mineralization . Ultimately, this survey is
instrumental in determining the next steps at Abitibi East and where to focus our efforts.”
Airborne Magnetic Survey
The survey was conducted by SHA Geophysics (SHA) using their Heli-3G, 3-axis magnetic
gradiometer system completing line spacing of 75m and a total of 1266-line kilometers of
survey. This type of helicopter survey uses SHA’s latest technology and sensors to get clean
and consistent data.
The magnetic survey identified several areas for follow up exploration. The magnetic high
seen in the southern central area of the Property (Figure 1, Target C), when reconnaissance
drilled in 1995, identified ultramafic rocks showing nickel mineralization. The magnetic high
at the southwestern most portion of the Property (Figure 1, Target A & B) , when
reconnaissance drilled in 1964, identified a potential VMS target. The NW -SE trending
magnetic high in the northeast corner of the Property comprises of a low-lying terrain and
has been mapped as mafic volcanics which may contain ultramafic units.
Figure 1 below also shows the location of the Mobile Metal Ion (MMI) lines (in black) on the
magnetic map. The goal of the completed MMI survey was to determine if the mobile ion
response from the MMI survey would provide any further insight into the magnetic highs on
the Property areas identified above. MMI assay results are pending.
Figure 1: Magnetics map with location of historical drill collars and MMI soil samples lines in black.
C
A
B
Abitibi East Project Highlights
• Poly-metallic critical mineral Property with additional base and precious metal
potential
• (Cu-Zn-Ag, Ni-Pt-Pd and Au)
• Centrally located to the Timmins Gold Camp (Au), Alexo-DunDonald (Ni-Cu-Co)
operating Nickel Mine (20kms), and the Kidd Creek (Cu-Zn-Pb-Ag) operating
Copper mine (50kms)
• Abitibi East Project covers 8050 Ha on the western end of the world-class Abitibi
greenstone belt
• No modern exploration - since 1995
• Historical sampling and assaying are incomplete or absent - modern multi-
element techniques are required for Project geochemistry
Stock Option Grant
The Company further announces it intends to grant 2,300,000 incentive stock options under
the Company’s stock option plan to certain directors, officers, and consultants of the
Company. These options will vest immediately and will be exercisable at a price of $0.0 75
for a period of sixty-months. The options are subject to TSX Venture Exchange approval.
Marketing & Consulting Agreement
The Company is also pleased to announce that it has entered into a marketing and
consulting agreement (the “ Agreement”) with Hillside Consulting and Media Inc.
(“Hillside”). Under the Agreement, Hillside will provide SEO/PPC, email and SMS
awareness, web development, media buying and distribution. Hillside is located in Penticton,
British Columbia and has been retained on a 10 -month term at a monthly fee of C$20,000
for its services. After the initial 10 -month period, either party may terminate the Agreement
at any time by providing the other party with 30 days’ prior written notice. Hillside is not a
related party and is arm’s length to the Company. Hillside currently owns shares in the
Company and as such has an interest in the price of the securities of the Company. The
Agreement is subject to TSX Venture Exchange approval.
About Abitibi East
The Abitibi East Property is underlain by Archean volcanic and sedimentary rocks which are
intruded by gabbroic intrusives and (Matachewan) dolerite dykes. The Project is
prospectable for several different deposit model types that include: Kambalda -type Ni-Cu-
(PGE) ore deposits; bimodal mafic -ultramafic volcanic massive sulfide (VMS) deposit; and
orogenic gold deposits hosted by shear zones.
The Project is located north of Iroquois Falls in an area that contains glaciofluvial and
glaciolacustrine deposits making traditional soil sampling difficult because the soils have
been transported by glaciers to their current locations.
References
1 digigeodata.com
2 miningdataonline.com
3 class1nickel.com
Qualified Person
The technical information contained in this news release has been reviewed and approved
by Freeman Smith, P.Geo., a Qualified Person for the purposes of National Instrument 43 -
101.
Contact Us
For further information, interested parties are encouraged to visit the Company’s website at
www.canadaonemining.com, or contact the Company by email at [email protected], or by
phone at 1.877.844.4661.
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer
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