Kirkland Lake, Ontario–(Newsfile Corp. – June 17, 2021) – RJK Explorations Ltd. (TSXV: RJX.A) (OTC: RJKAF) ("RJK" or "the Company") is pleased to announce that it has discovered its 9th kimberlite in The Historic Cobalt Mining Camp. A vertical drill hole KON-21-08 has intersected a volcaniclastic kimberlite breccia from 22.15 m to 26.7 m, overlain by glacial outwash sands and underlain by a mafic syenite intrusive complex This new kimberlite discovery falls within the edge of the footprint of an EM conductance anomaly which is similar in character to conductance responses from kimberlites discovered in Lorrain Township by RJK. Step-out drilling is planned to outline the dimensions of the new kimberlite discovery within the EM conductance anomaly. RJK will be testing 3 other targets on the Kon claims before moving to Longfellow Lake to follow up on kimberlite float Tony Bishop discovered while prospecting. A drone magnetometer survey is also planned to cover magnetic anomalies underlying and surrounding Longfellow Lake.
RJK has incorporated RJK Metals Inc., as a wholly owned subsidiary of RJK Explorations Ltd., to look at gold, silver, cobalt and base metals opportunities. RJK would like to welcome Gino Chitaroni who is a lead advisor to RJK to head this subsidiary.
The Company intends to extend the common share purchase warrants previously issued pursuant to the Company's non-brokered private placement that closed July 7, 2020. The Company issued a total of 3,600,000 Warrants exercisable at a price of $0.25 to purchase one common share in the capital of the Company for a period of one year. The Company wishes to amend the outstanding Warrants to extend their term to July 7, 2023. The exercise price of the Warrants will remain unchanged. The Warrant Amendment remains subject to approval of the TSX Venture Exchange.
Glenn Kasner, President, comments, "Our 9th kimberlite discovery is exciting as this discovery opens up a new structural domain in the western side of the Timiskaming Rift Valley which may be highly prospective for kimberlite emplacement as well as metallic deposits. With this discovery, the number of targets we have within our land package has increased, and we intend to update shareholders on those once we conduct further studies."
Mr. Peter Hubacheck, P. Geo., Project Manager for RJK and the Qualified Person as defined by National Instrument 43-101 has approved the technical disclosure in this release.
Neither the 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.
This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning future mineral exploration and property option payments. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the financial resources of the Corporation being inadequate to carry out its stated plans. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87901