International Prospect Ventures Increases its Gold Property Package in Western Australia
International Prospect Ventures Increases its
Gold Property Package in Western Australia
Val-d'Or, Québec--(Newsfile Corp. - June 29, 2022) -
International Prospect Ventures Ltd.
(TSXV:
IZZ) (the "Company" or "IZZ"), is pleased to announce that it is increasing its property package in the
Eastern Pilbara of Western Australia.
The Company and its wholly owned subsidiary Valroc Ventures
Pty Ltd. ("Valroc") have entered into an agreement to acquire two mineral Prospecting Licences (the
"Tenements") in the Nullagine District, bringing the total land holdings in WA to approximately 14,352
hectares.
The Tenements are contiguous, and their centre is located about 7.7 km west of the western
edge of the M-Group of tenements (E46/1197, 1198, 1201, 1202, 1390).
The Tenements, located in the central area of the Mosquito Creek Basin and approximately 35 km
northeast of Nova Resources' Nullagine Gold Project, cover regional gold-bearing structural trends (e.g.,
immediately north of the Blue Spec Fault Zone) with historically reported quartz veins in shear zones. The
Tenements are surrounded by tenement holders that primarily include Novo Resources Corp.
As consideration for the acquisition of the Tenements, the Company will make a cash payment of
AUD$15,000 to the vendor of the Tenements as a reimbursement of historical expenditures (the
"Deposit") and will issue 1 million shares in the capital of the Company at a deemed price of CAD$0.07
per share.
The closing of the acquisition is subject to among other things, the condition precedent that
the application for the Tenements shall be granted by the applicable authorities by December 31, 2022,
failing which the vendor shall return the Deposit. The agreement also provides that the shares will not be
issued to the vendor until after the Tenements are granted.
Qualified Person
Dr. Scott Jobin-Bevans, (PhD, PMP, P.Geo.), a Director and Vice-President, Exploration for the
Company, is a Qualified Person pursuant to National Instrument 43-101 and has reviewed and approved
of the technical content of this news release as it relates to the Property.
For additional information, please contact:
Glenn Mullan
President/CEO
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808
Website:
www.iprospectventures.ca
Forward Looking Statements:
This news release contains certain statements that may be deemed "forward-looking statements.
Forward looking statements are statements that are not historical facts and are generally, but not always,
identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects",
"potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should"
occur. Although the Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance and
actual results or realities may differ materially from those in forward looking statements. Forward looking
statements are based on the beliefs, estimates and opinions of the Company's management on the date
the statements are made. Except as required by law, the Company undertakes no obligation to update
these forward-looking statements in the event that management's beliefs, estimates or opinions, or other
factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/129426