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2864 chemin Sullivan
Val-d’Or, Québec J9P 0B9
International Prospect Ventures Acquires Valroc Ventures Pty Ltd.
and 100% Interest in Tenements Located in the Pilbara Region of Western Australia
Val-d’Or, Québec – January 31, 2019 – International Prospect Ventures Ltd. (TSX-V:IZZ) (the
“Company”) is pleased to announce that it has acquired Valroc Ventures Pty Ltd. (“Valroc”), a New
South Wales, Australia company, by way of share exchange (the “Valroc Agreement”). In accordance
with the terms of the Valroc Agreement and as consideration for the acquisition, the Company has
issued 1,600,000 common shares to the principal of Valroc and Valroc is now a wholly -owned
subsidiary of the Company.
The Company now holds 100% ownership of 8 properties in an area southeast of Karratha, Western
Australia, covering a total area of approximately 1026.10 square kilometres . Granting of the
exploration licences for the eight properties was completed as of January 9, 2019. The strategic
locations of the claims were determined on the basis of a review of known geology and historical
exploration results, and a focus on coarse -grained conglomerate host rocks at, or in proximity to, a
prominent and well-documented geological unconformity. A summary of the 8 properties is provided
below.
The Hamersley Basin and Fortescue Group
The Late Archaean–Palaeoproterozoic Hamersley Basin and related sub -basins formed on an older
granite–greenstone basement (Pilbara Craton) during the initial stages of Late Archaean continental
rifting. The Fortescue Group, which ranges in age from 2.8 to 2.6 billion years, unconformably
overlies the granite–greenstones of the Pilbara Craton and is commonly compared to the Ventersdorp
Supergroup of the Witwatersrand Basin in South Africa. Gold- bearing conglomerates have been
identified by Novo Resources Corp. at several stratigraphic levels in the Fortescue Group (e.g., within
the Nullagine sub-basin). Similarities between palaeoplacer deposits hosted by conglomerates in the
Fortescue Group and the gol d-bearing reefs mined in South Africa have been recognized for over a
century.
The Nullagine Sub-basin
The Nullagine sub-basin formed on an older granite–greenstone basement during the initial stages of
Late Archaean continental rifting and formation of the more extensive Hamersley Basin. Alluvial
gold was first discovered in the Nullagine sub- basin in 1886 and by 1893 the Nullagine region had
become a major gold field. A hard-rock source for alluvial gold deposits at Nullagine was identified
in 1895. In re cent years, gold -bearing conglomerates have been identified at several stratigraphic
levels in the Fortescue Group within the Nullagine sub- basin, including the recent work by Novo
Resources.
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In 2016, approximately 45 kilometres south of the town of Karratha, metal detectorists ("fossickers")
discovered several areas that were particularly rich in gold nuggets. Metal detectorists have been
active along an 8-km long corridor underlain by conglomerate horizons that are part of a 50-100 metre
thick sequence of sedimentary rocks at the base of the Fortescue Group. It's interesting to note that
this sequence of sedimentary rocks does not appear on most geological maps. Recently, prospectors
discovered gold nuggets in- situ, within outcrops of conglomerate, verifyi ng an origin for gold
nuggets.
Further details of the West ern Australia tenements and the gold-bearing Pilbara region in which the
tenements are located, was previously announced by the Company in its news releases of November
14, 2017 and December 14, 2017. Additional information is available on the Company website.
Summary of International Prospect Ventures’ Properties in the Pilbara, Western Australia.
Property Licence Area (ha) Description
Habs E45/5024 4650 Dominated by Fortescue Group including interpreted Mt. Roe Basalt and
Hardey Formation at depth. Proximal to Novo Resources and Pacton Gold.
Hawks E46/1197 2170
Covers Nullagine Group including Mosquito Creek Formation which hosts
multiple gold prospects and mines along strike to the west. Four prospects on
the Property: (1) Little Linden West (Au), (2) Little Linden South 1 (Au), (3)
Little Linden South 2 (Au), (4) Little Linden South 3 (Au). Proximal to Novo
Resources.
Rangers E46/1198 4030
Covers Nullagine Group including Mosquito Creek Formation which hosts
multiple gold prospects and mines along strike to the west. Proximal to Novo
Resources.
Penguins E46/1202 930
Covers Nullagine Group including Mosquito Creek Formation which hosts
multiple gold prospects and mines along strike to the west. Proximal to Novo
Resources.
Wings E46/1201 1240
Covers Nullagine Group including Mosquito Creek Formation which hosts
multiple gold prospects and mines along strike to the west. Proximal to Novo
Resources.
Bruins E46/1199 7440
East half dominated by Fortescue Group. Two prospects on the Property: (1)
Coondamar Creek CEC (Cu-Pb-Zn) and (2) Coondamar Creek Mogul (Cu-
Pb-Zn-Ag).
Leafs E45/5023 62000
Covers Fortescue Group that include prospective conglomerates. Two
prospects on the Property: (1) Fletchers Find (Au) hosted by Fortescue Group
and (2) Pearana 1 (Cu-Pb-Zn) hosted by Hardey Formation.
Jets E46/1200 20150 Dominated by Fortescue Group with Mt. Roe Basalts and Hardey Formation
in the area.
Dr. Scott Jobin- Bevans (PhD, PMP, P.Geo.), a director and Vice President Exploration of the
Company, is the Qualified Person (as that term is defined in National Instrument 43-101 – Standards
of Disclosure for Mineral Projects) who has reviewed this news release and is responsible for the
technical information reported herein.
For additional information, please contact:
Glenn J. Mullan
President
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2864 chemin Sullivan
Val-d’Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: [email protected]
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.
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