Christopher James Gold Corp

Published : September 02nd, 2009

Signs LOI with Fortune River Resources on Zebra Gold Project in Nevada

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Copper | G Mexico | Gold | Mexico | Silver | Wind |
Christopher James Gold Signs LOI with Fortune River Resources on Zebra Gold Project in Nevada Christopher James Gold Corp (�the Company�) (CJG: TSX.V) is pleased to announce that it has signed a Letter-of-Intent (�LOI�) with Fortune River Resources (FRX: TSX.V) to jointly explore the Zebra Gold Project in Nevada. The property is located approximately 20 km. due west of Newmont�s Midas mine and directly north of Yamana/Atna�s recent discovery at their Clover Project. This will be the third low-sulphidation gold/silver property in Nevada being jointly explored by Christopher James Gold and Fortune River Resource Corp. (see the Company�s July 14 and July 21, 2009 News Releases).

After an initial payment of $15,000 (USD) by Christopher James Gold, each company will contribute equally to each earn a 50% interest in the Zebra property, subject to a standard dilution formula should one party decide not to contribute. Fortune River will be project manager initially, continuing as long as mutually agreed. Annual minimum royalties will be due starting on the first anniversary, beginning at $10,000 (USD) and increasing yearly by $10,000 (USD) to a maximum of $50,000 (USD) annually. Fortune River and Christopher James will be responsible for claim-holding fees unless the property option is terminated by June 1st of each year. The project is subject to an underlying royalty of 3 % NSR, of which 1% NSR can be purchased for $ 1,000,000 (USD) and a second 1 % NSR can be purchased for $ 1,500,000.

The Zebra project consists of 85 lode mining claims covering approximately 680 hectares on land managed by the Bureau of Land Management. Zebra�s setting is along the Northern Nevada Rift, a major geological feature in Nevada associated with multi-million ounce, high-grade gold deposits such as the Buckhorn, Mule Canyon, Fire Creek, and Newmont�s Midas mine, and is adjacent to, and along strike with Yamana/Atna�s Clover project which has produced several drill intercepts of +30 g/t gold.  

The initial exploration program will consist of data compilation, geological mapping, detailed surface sampling, and geophysics to generate drill targets.

Christopher James Gold�s President Max Baker commented; �This third agreement with FRX is part of the Company�s ongoing exploration strategy of joint venturing with established explorers on their intermediate-stage exploration projects.  The company is specifically targeting gold projects which show good indications of either near-surface high-grade or bulk-tonnage mineralization potential that can be quickly and cost effectively advanced to the drilling stage and then tested with a limited number of holes.  The Zebra property is one more addition to CJG�s expanding portfolio of gold projects as part of its strategy of becoming a significant explorer in both Nevada and Mexico.  This project, like the previous ones, shows good pedigree and clear indications of exploration upside.  The next 12 month�s minimum expenditure commitment for the three recently acquired Nevada gold projects is less than $200,000, allowing CJG the flexibility to acquire additional projects and drill test any priority targets which come out of the current work in Nevada.  The company currently has approximately $2M in funds, sufficient to enable it to acquire and advance several additional projects in Nevada and Mexico, prior to raising any additional funds.�

About Christopher James Gold
Christopher James Gold Corp continues to actively pursue exploration opportunities in Canada, the USA, and Mexico and presently owns 100% of the following exploration-stage gold/copper properties in British Columbia: Big Kidd, Brassie Creek, Little Fort, Copper Creek, and Craigmont projects. In addition the Company has joint ventures with Fortune River Resource Corp. on the Highland and Buz gold projects in Nevada.  This third agreement with Fortune River Resource Corp. is a part of CJGC�s ongoing corporate strategy to become more active in both Nevada and Mexico.  

About Fortune River
Fortune River Resource Corp. is exploring for high-grade gold deposits within two prolific gold producing geologic provinces, Nevada and Ontario. The Wind Mountain, East Manhattan, Highland, Baxter, Mud Springs, and Buz projects are located in Nevada and the Drayton project is located in Ontario.

Christopher James Gold Corp. is a reporting issuer in British Columbia and Alberta, and trades on the TSX Venture Exchange under the ticker symbol CJG. 
Please visit www.christopherjamesgold.com
 
E. Max Baker B.Sc. (Hons) Ph.D., Member AustIMM is the Qualified Person as defined by National Instrument 43-101, and is responsible for the preparation of this News Release, which is based on information obtained from the Joint Venture Partner.

On behalf of the Board,

E. Max Baker, President, CEO Christopher James Gold Corp.

FURTHER INFORMATION

Christopher James Gold Corp.
Investor Relations
Tel: 604 408 8829
Email: info@christopherjamesgold.com

This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as �may�, �should�, �expects�, �plans�, �anticipates�, �believes�, �estimates�, �predicts�, �potential� or �continue� or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry�s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled �Risk Factors� in the Company�s periodic filings with the British Columbia Securities Commission, which can be viewed at www.SEDAR.com.
The TSX Venture Exchange does not accept responsibility
for the adequacy or accuracy of this release.

 

<
Data and Statistics for these countries : Canada | Mexico | All
Gold and Silver Prices for these countries : Canada | Mexico | All

Christopher James Gold Corp

CODE : CJG.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Christopher James Gold is a gold exploration company based in Canada.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Christopher James Gold Corp
3/22/2007Gold to Raise $5,100,000 by Private Placement
Option Grants of Christopher James Gold Corp
4/23/2007Grants Incentive Stock Options
4/14/2007Grants Incentive Stock Options
Nominations of Christopher James Gold Corp
8/1/2007Appoints Paul Robertson CFO
Project news of Christopher James Gold Corp
7/24/2009(Buz / Mud Springs)Options Up To 70% of Buz Project in Nevada From Rio Fortuna
9/22/2008(Garcia Flats)Withdraws From Garcia Flats Project
10/24/2007(Garcia Flats) Reports Initial Garcia Flats Project Drill Results
9/26/2007Results From Ranch Project Drilling
8/14/2007Reports Initial Results from Drilling at the Ranch Project, ...
6/27/2007(Garcia Flats)Commences Drilling At Garcia Flats Gold Project
5/31/2007Correction to last distributed drill results table.
Corporate news of Christopher James Gold Corp
9/2/2009Signs LOI with Fortune River Resources on Zebra Gold Project...
12/4/2008Withdraws From Canoe Reach Geothermal Project
9/23/2008Canoe Survey Shows Potential Reservoirs
7/16/2008To Acquire High Temperature Geothermal Project and Two Gold/...
1/8/2008Withdraws From The Ranch Property
12/15/2007 Director Paul Macneill Passes Away
8/29/2007Acquires the Lawyers Gold Project
5/31/2007Begins 2007 Drilling at the Ranch Gold Project
5/17/2007Acquires Option on Carlin-Style Pediment Play in Nevada
5/10/2007Drilling Commences at the Cucaracha Dorada Gold Project
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (CJG.V)
0.150+0.00%
Last quotes and information before delisting
Prev close Open
0.150 0.150
Low High
0.150 0.160
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.150 -%
Volume 1 month var.
149,275 -%
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 6.88+0.00%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 8.36-1.42%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59+1.37%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.00-2.44%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 11.30-1.99%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.31+1.64%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.60+3.90%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.32-2.61%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.