Sylla Gold Executes LOI To Acquire the Samaya South and Niaouleni West Gold Permits
Sylla Gold Executes LOI To Acquire the
Samaya South and Niaouleni West Gold
Permits
Bedford, Nova Scotia--(Newsfile Corp. - May 9, 2022) -
Sylla Gold Corp. (TSXV: SYG)
("
Sylla Gold
"
or the "
Company
") is pleased to announce that it has entered into two letters of intent (
"
LOI
"
) pursuant
to which Sylla Gold would acquire an option to earn 100% of the Samaya South and Niaouleni West gold
exploration permits located contiguously northwest and west of the Company's Niaouleni Gold Project.
The Samaya South and Niaouleni West exploration permits comprise of 2,500 hectares and 3,200
hectares, respectively and represent a 60% expansion of the Company's licence holdings in the area for
a total of 15,100 hectares.
(Figure 1)
Figure 1 - Sylla Gold Properties
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6472/123241_9fda22e40412ba6b_001full.jpg
.
Regan Isenor, President and CEO of Sylla Gold commented,
"We have always considered Samaya
South and Niaouleni West to be crucial pieces of the larger Niaouleni regional land package and feel
these acquisitions are a significant milestone in the development of the Niaouleni Project. With
Niaouleni West the Company secures an additional 2km strike length of the Kobada structure,
represented by strong gold geochemical anomalies along strike. In Samaya South, extensive
artisanal workings and surface showings indicate the potential for the development of high priority
targets in an area that has seen very little modern exploration. The Sylla Gold technical team has
been very successful on prior projects in this geological setting, and this expanded land package
uniquely positions the Company to build value at Niaouleni while developing regional targets at
Niaouleni West and Samaya South using exploration methodologies that have proven successful on
similar projects in the past."
Niaouleni Project
The Niaouleni Project (Figure 2) is 9,400 hectares in size and accessible by paved highway and
includes extensive artisanal mining activity within the interpreted extensions of gold bearing structures.
Past exploration at Niaouleni includes extensive reverse circulation (RC) and diamond drilling, which
have identified several structural gold-bearing zones that appear to extend from the adjacent Kobada
gold deposit. Historical exploration and drilling results have been compiled into a digital database and
interpreted for the purposes of designing the recently commenced drilling program (Sylla Gold press
release, April 25 2022) to further test these structural gold-bearing zones and extend them further.
Figure 2 - Niaouleni Property Location
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6472/123241_9fda22e40412ba6b_002full.jpg
.
CFO Appointment and Stock Option Grant
The Company is also pleased to announce the appointment of Mr. Mark McMurdie as Chief Financial
Officer of Sylla Gold. Mr. McMurdie has over 30 years of senior leadership experience in public and
private companies. The appointment follows the resignation of Greg Isenor as the Company's CFO.
Mr.
Isenor will remain as a director of the Company. The Company wishes to thank Mr. Isenor for his
contributions as CFO over the years.
The Company also announces that pursuant to its stock option plan (the "Plan"), the Company has
granted a total of 3,075,000 stock options ("Options") to directors, officers, and consultants of the
Company. The Options have an exercise price of $0.20 per common share and are valid for a period of
five (5) years and expire on May 9, 2027.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by
Gregory Isenor, P.Geo., Director of Sylla Gold Corp. who is a Qualified Person as defined in NI 43-101.
For more information, please contact:
Regan Isenor
President and Chief Executive Officer
Tel:
(902) 233-4381
Email:
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
release.
Forward-Looking Information Statement
This news release contains forward-looking information which is not comprised of historical facts.
Forward-looking information is characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate" and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, and opportunities to differ materially from those
expressed or implied by such forward-looking information. Factors that could cause actual results to
differ materially from such forward-looking information include, but are not limited to, changes in the
state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required
regulatory or governmental approvals, and includes those risks set out in the Company's
management's discussion and analysis as filed under the Company's profile at
www.sedar.com
.
Forward-looking information in this news release is based on the opinions and assumptions of
management considered reasonable as of the date hereof, including that all necessary governmental
and regulatory approvals will be received as and when expected. Although the Company believes that
the assumptions and factors used in preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information. The Company disclaims any
intention or obligation to update or revise any forward-looking information, other than as required by
applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/123241