Vancouver, BC – January 13, 2022, Clarity Gold Corp. (“Clarity” or the “Company”) (CSE:CLAR, OTC:CLGCF, FSE:27G) is pleased to provide a corporate update as the Company continues to advance its project portfolio.
Corporate and Operational Highlights
- Portfolio of three wholly owned BC exploration projects.
- Healthy treasury of approximately $2.7 million.
- Results pending from 2021 Program on Empirical Copper Gold Project.
- Exploration planning to commence for 2022 season
“The Company is in a strong financial position and is awaiting results from the Empirical 2021 exploration program,” stated CEO, James Rogers. “Our team remains focused on delivering shareholder value through exploration of its wholly owned projects and continues to evaluate other opportunities where we can deploy our exploration strategy.”
Empirical Project Exploration Program
The 2021 Empirical property field program carried out in September was designed to investigate a number of mineralized showings occurring throughout the southeastern extent of the property,
Historical blast and hand trenches at the Rickhill showing – where previously, six samples yielded an average of 0.95 percent copper over 12.9 meters (Skerl, 1959), were extensively mapped, chip and channel sampled. A 131-sample soil grid – in close vicinity to the Rickhill showing was completed, in addition to a cumulative 63 meters of trench – chip sampling and 4 meters of channel sampling at the showing itself.
Across the adjacent Mud and Cherry copper showings, 153 soil samples were obtained, in addition to 52 meters of historic blast trench chip sampling.
A mapping and talus sampling campaign was undertaken in the southwestern and central portions of the property, within the Molybdenite Lake cirque and Tow regions, where historically, geological mapping has been deficient and prospective gold and molybdenite showings occur. Approximately 98 rock grab samples were obtained throughout the property, in addition to 63 talus fines samples acquired from the aforementioned Molybdenite Lake and Tow regions of the property.
Analytical results from samples collected during the program are still pending at Bureau Veritas and will be released when they are received and compiled.
About the Empirical Project
The Company’s gold-copper-molybdenum porphyry project, the Empirical Project, is located 12 km south of Lillooet, British Columbia, and covers 10,518 ha. The Empirical Project is situated in the Cordilleran Continental Arc which hosts 26 significant porphyry deposits, including Imperial Metal Corporation’s historic Huckleberry Mine and Noranda’s historic Babine Porphyry camp.
Between 1981 – 1986, six out of fifteen diamond drill holes intersected gold mineralization, including hole DD81-4 which assayed 3.67 g/t gold over 21 m from 36m. Previous exploration focused on molybdenite without an understanding or aim of targeting a larger porphyry system. For more information on the Empirical Project, please see the Company’s National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) Technical Report on the Empirical Project filed on SEDAR on March 24, 2020.
There are multiple copper showings in the Southeast portion of the project, including the Rickhill Showing where six surface rock samples collected in 1959 averaged 0.95% copper over 12.9 meters (Minfile 092INW022). Elevated copper in soil samples indicate that this zone of copper mineralization may be extended up to a total of 30 m (Skerl, 1959). In 1970, 538 soils were collected with copper intensities ranging between 6 ppm to 212 ppm (Assessment report 02530).
Historic work in the Southwest identified two molybdenum showings namely, the Molybdenite Lake and Fyp showings where historic samples taken from quartz veins have assayed up to 0.32% molybdenum and 0.35 g/t gold (Nelson, J. (1985-10-01): B.C. Gold Reconnaissance 1985 – Lillooet Project – Final Report; Assessment Report 30875; Minfile 092ISW109, 092ISW110). Previous work has focused on the area’s molybdenum potential, with minimal exploration for gold and only coincidental evaluation of the copper potential.
The QP (as defined below) has not verified the results of the historic exploration and sampling on the new claims added to the Empirical Project’s property package, additional sampling will be required to verify the data.
Qualified Person
Mr. Rory Kutluoglu P. Geo., a member of the advisory board and a consultant of the Company, is the Qualified Person (“QP”) under NI 43-101 for the technical information in this news release and has verified the data disclosed for the Destiny and Empirical Projects and approves the technical contents contained in this news release.
About Clarity
Clarity Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold projects in Canada. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “CLAR”. To learn more about Clarity Gold Corp. and its projects please visit www.claritygoldcorp.com.
ON BEHALF OF THE BOARD
“James Rogers”
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: [email protected]
Website: claritygoldcorp.com
Featured Image MegaPixl @ Martinstroj
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: that the Company continues to advance its project portfolio; that the work at the Empirical Project is ongoing and the Company will provide further updates as the program is completed and analytical results from samples collected during the program are received; and other business plans of the Company.
The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including: that the drilling may not go as planned or start when expected; that the Company may experience difficulties in drilling and carrying out related work; changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; the risk that the Company may lose access to any of its properties; the risks that the Company may not find any minerals in commercially feasible quantities; that the Company may not raise enough money to fund its exploration plans; uncertainty of development plans and cost estimates; commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations; the state of the capital markets; uncertainty in the measurement of mineral reserves and resource estimates; the Company’s ability to attract and retain qualified personnel and management; potential labour unrest; uncertainty as to reclamation and closure requirements for its mineral properties; unpredictable risks and hazards related to the exploration and development and operation of a mine or mineral property that are beyond the Company’s control; and other risks and uncertainties identified under the heading “Risk Factors” in the Company’s continuous disclosure documents filed on SEDAR. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the Canadian Securities Exchange (operated by CNSX Markets Inc.) nor its Regulation Services Provider have reviewed or accept responsibility for the accuracy or adequacy of this release.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Clarity Metals Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Clarity Metals Corp.’s industry; (b) market opportunity; (c) Clarity Metals Corp.’s business plans and strategies; (d) services that Clarity Metals Corp. intends to offer; (e) Clarity Metals Corp.’s milestone projections and targets; (f) Clarity Metals Corp.’s expectations regarding receipt of approval for regulatory applications; (g) Clarity Metals Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Clarity Metals Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Clarity Metals Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Clarity Metals Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Clarity Metals Corp.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Clarity Metals Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Clarity Metals Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Clarity Metals Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Clarity Metals Corp.s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Clarity Metals Corp.’s business operations (e) Clarity Metals Corp. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Clarity Metals Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Clarity Metals Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Clarity Metals Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Clarity Metals Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Clarity Metals Corp. or such entities and are not necessarily indicative of future performance of Clarity Metals Corp. or such entities.
