Black Horse Project Update; North PEAK Announces Addition to Its Board of Directors
BLACK HORSE PROJECT UPDATE; NORTH
PEAK ANNOUNCES ADDITION TO ITS BOARD
OF DIRECTORS
CALGARY, AB
,
May 16, 2022
/CNW/ -
North Peak Resources Ltd.
(TSXV: NPR) (the "
Company
"
or "
North Peak
") provides the following update on the work programs underway pursuant to its
option to purchase the Black Horse gold property located near
Ely, Nevada
, which was last drilled in
1999. The agreement with Minex LLC, the property owner, to obtain this option was signed in
December 2021
. North Peak then obtained permits in January to carry out core and reverse
circulation (RC) drilling programs, including on the previously drilled Area A section of the Black
Horse property, and has now sampled the San Pedro former underground mine area referred to as
Area B on the property.
"Operational challenges have impacted both drilling programs as lower than acceptable core
recovery will likely mean certain target holes will require re-drilling and mechanical issues with the
drills themselves caused setbacks to the progress of the RC drilling," said
Brian Hinchcliffe
, CEO.
"The Company will be in a position to publish results once it has a critical mass of material assay
results from the drill programs and from the underground sampling of the Area B former mine
workings."
New Director
The Company also announces that
Leni Keough
has been appointed to the Board of the Directors of
the Company, effectively
May 13, 2022
. Ms. Keough brings over 35 years' experience in the mining
industry, focused on mineral exploration, and combined with expertise in project management, public
company management, finance and capital markets, communications, and business development.
She founded private explorer Adamas Minerals Inc. in 1992 and Olivut Investments Ltd. in 2004.
The latter was taken public in 2007 as Olivut Resources Ltd. on the TSX Venture Exchange. She
has been responsible for the exploration programs undertaken by Olivut in
Canada
,
South America
and elsewhere.
Ms. Keough is a graduate of the
University of Western Ontario
, BSc. Honors Geology (1986). She
is a past director of the Prospectors and Developers Association of Canada. Ms. Keough is a
director of the NWT and Nunavut Chamber of Mines and served on the NWT Mining Industry
Advisory Board. She is a member of the Association of Professional Engineers and Geoscientists of
Alberta
, and the NWT and Nunavut Association of Professional Engineers and Geoscientists.
Ms. Keough has also been appointed to the Audit Committee of the Company, which members now
consist of
John Thomson
(Chair), Ms. Keough and
Rob Suttie
.
In addition, the Company announces that current director
Chelsea Hayes
, has been appointed an
officer of the Company, taking on the role of Director of Business Development. Ms. Hayes has
been instrumental in assisting management of the Company in identifying and reviewing potential
mining projects since the Company completed its "Change of Business" transaction in 2020, and she
will continue to do so going forward by taking on this additional role with the Company.
Mr.
Mike Sutton
, P.Geo., a director of the Company, is the Qualified Person who
reviewed and approved scientific and technical information in this news
release.
About North Peak Resources
The Company is a Canadian based gold exploration and development company that is listed on the
TSX Venture Exchange under the symbol "NPR". The Company holds an option to acquire the 2,733-
acre Black Horse gold and silver property located approximately 50 miles east of
Ely
within the
Black Horse mining district in
White Pine County
, Nevada. See the Company's
January 11, 2022
press release for additional information.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS:
This news release includes certain "forward-looking statements" under applicable Canadian
securities legislation. Forward-looking statements include, but are not limited to, progress and
timing of exploration drill programs, timing of receipt and disclosure of assay results, estimates of
mineralization from drilling, geological information projected from sampling results and the
potential quantities and grades of the target zones, potential for minerals and/or mineral resources
and statements regarding the plans, intentions, beliefs, and current expectations of the Company
with respect to the future business activities and operating performance of the Company that may
be described herein. Forward-looking statements consist of statements that are not purely
historical, including any statements regarding beliefs, plans, expectations or intentions regarding
the future. Such information can generally be identified by the use of forwarding-looking wording
such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative
thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions or expectations upon which
they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties, both general and specific, that contribute to the possibility that the
predictions, estimates, forecasts, projections and other forward-looking statements will not occur.
These assumptions, risks and uncertainties include, among other things, the state of the economy
in general and capital markets in particular, accuracy of assay results, geological interpretations
from drilling results, timing and amount of capital expenditures; performance of available
laboratory and other related services, future operating costs, and the historical basis for current
estimates of potential quantities and grades of target zones, as well as those risk factors discussed
or referred to in the Company's Management's Discussion and Analysis for the year ended
December 31, 2021
, and the period ended
September 30, 2021
available at
www.sedar.com,
many
of which are beyond the control of the Company. Forward-looking statements contained in this
press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this
press release. Except as required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Additionally, the Company undertakes no obligation to
comment on the expectations of, or statements made by, third parties in respect of the matters
discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
SOURCE
North Peak Resources Ltd.
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%SEDAR: 00032415E
For further information:
Brian Hinchcliffe, CEO, Phone: +1-647-424-2305, Email:
[email protected]; Website: www.northpeakresources.com; Chelsea Hayes, Director,
Phone: +1-647-424-2305, Email: [email protected]
CO: North Peak Resources Ltd.
CNW 09:10e 16-MAY-22