ProfitScout
4 years ago
HI HO SILVER RESOURCES PROVIDES UPDATE RESPECTING THE FAIRVIEW PROPERTY
Vancouver, British Columbia--(Newsfile Corp. - October 8, 2020) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC Pink: HHSRF) (FSE: H9T1) ("Hi Ho" or the "Company") is pleased to provide an update on its 100% owned Fairview Property, comprising 23 mineral claims totaling 1,794.51 hectares and located approximately 4.5 kilometers west of the town of Oliver, in the southern Okanagan region of British Columbia.
The Company intends to embark on a field-based exploration program as recommended by the Company's Technical Report on the Fairview Gold Property dated September 3, 2019, which is available under the Company's SEDAR profile at www.sedar.com. The exploration program on the Property was originally scheduled for spring 2020 but was delayed due to the impact of the COVID-19 pandemic. The Company now intends to move forward in fall 2020 with high priority follow-up exploration as recommended by the Technical Report. Initially this will incorporate all aspects of environmental and First Nations negotiations and contact with all stakeholders, the community and the provincial ministries concerned.
The Company intends to plan for and establish an early stage field-based exploration program comprising surface trenching, geologic mapping and channel sampling all sites highlighted by previous drilling and mining activities, as recommended in the Technical Report. To accomplish this, a site visit will initiate the due diligence documentation on the Property and provide site assessments of all surface access and conditions so that a plan, schedule and preliminary budget can be prepared by late 2020 or early 2021. A review of the findings from the initial surface works will help identify further potential surface exploration, diamond drilling and mini bulk sampling, all as recommended in the Technical Report.
The Company will provide further updates concerning the Fairview Property in due course.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
C. 778-989-0770
Email: bill@hihoresources.com
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65538
ProfitScout
4 years ago
Hi Ho Silver Resources Announces Revocation of Cease Trade Order
Vancouver, British Columbia--(Newsfile Corp. - October 5, 2020) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC Pink: HHSRF) (ST: H9T1) ("Hi Ho" or the "Company") is pleased to report that the British Columbia Securities Commission, as principal regulator, the Ontario Securities Commission and the Alberta Securities Commission have revoked the cease trade order dated January 30, 2020 respecting the Company (the "CTO") and the British Columbia Securities Commission has revoked the management cease trade order issued on November 29, 2019 respecting the Company (the "MCTO").
The CTO and the MCTO were issued for failure to file financial statements, management's discussion and analysis and certifications of filings for the financial year ended July 31, 2019 and for the interim period ended October 31, 2019 (the "Required Filings"). The Required Filings have now been filed and are available for review under the Company's profile at www.sedar.com.
The Company's future plans are to continue to focus on developing its property interests, including the Norbeau Gold Project, the Fairview Gold Project and the Canadian Kootenay Clay Project.
The Company also intends to apply to the Canadian Securities Exchange for reinstatement of trading of the Company's common shares.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
C. 778-989-0770
Email: bill@hihoresources.com
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65282
https://www.newsfilecorp.com/newsinfo/65282/130
ProfitScout
5 years ago
Hi Ho Silver Resources Announces Extension of Warrants
Newsfile Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2019) - Hi Ho Silver Resources Inc. ("Hi Ho" or the "Company") (CSE: HHS) (OTC Pink: HHSRF) (FSE: H9T1) announced that it will extend the expiry dates of an aggregate of 13,490,000 common share purchase warrants by two years. The warrants, their exercise prices, their original expiry dates and their new expiry dates are as follows:
Number of Warrants Exercise Price Original Expiry Date New Expiry Date
500,000 $0.20 June 13, 2019 June 13, 2021
460,000 $0.30 July 28, 2019 July 28, 2021
390,000 $0.30 October 30, 2019 October 30, 2021
260,000 $0.30 January 24, 2020 January 24, 2022
3,420,000 $0.30 May 2, 2019 May 2, 2021
620,000 $0.30 May 1, 2020 May 1, 2022
5,960,000 $0.30 June 15, 2019 June 15, 2021
220,000 $0.30 August 31, 2019 August 31, 2021
760,000 $0.30 August 31, 2020 August 31, 2022
900,000 $0.30 January 29, 2021 January 29, 2023
As a result of the fact that certain of the officers and directors of the Company are warrant holders, the extension of the warrants is considered a "related party transaction" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The extension of the warrants is exempt from the requirements under MI 61-101 to obtain a formal valuation and minority shareholder approval pursuant to Sections 5.5(a) and 5.7(a) of MI 61-101. The Company has filed a material change report less than 21 days before the effective date of the extension of the warrants, which is reasonable in the circumstances given that the exercise price of the warrants being extended is well below the current market price of the Company's shares.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
C.778-989-0770
Email:bill@hihoresources.com
Website: http://www.hihoresources.com
Hi Ho Silver Resources Inc.
PO Box 21199
Maple Ridge Square
Maple Ridge, British Columbia
V2X 1P7
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43824
http://www.newsfilecorp.com/newsinfo.php?i=43824&f=131
ProfitScout
6 years ago
HI HO SILVER RESOURCES PROVIDES UPDATE ON ITS NORBEAU GOLD PROJECT
Vancouver, British Columbia--(Newsfile Corp. - February 20, 2019) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC Pink: HHSRF) (FSE: H9T1) ("Hi Ho" or the "Company") is pleased to provide an update respecting its Norbeau Gold Project, which covers 1,637 hectares in the Chibougamau Mining District in Northwestern Quebec, Canada. Please see the Company's news release dated October 31, 2018 describing the Company's acquisition of the Beaurox Property and the Norbeau Property, which collectively comprise what the Company calls the Norbeau Gold Project.
The Company intends to fast-track the development of the Project, with the goal of commencing production in 2021. In pursuit of this goal, the Company has retained Mr. David Malouf of Longlac, Ontario, and Mr. Greg Budge of Victoria, British Columbia, for the purpose of authoring a preliminary budget for the Norbeau Gold Project. Both men are highly qualified and possess extensive knowledge and experience in mining operations in Canada and abroad. Their expertise includes start-up procedures, infrastructure, ore extraction and all aspects of environmental and First Nations negotiations. They will begin their due diligence on the Project immediately and will complete a site visit to the Project as soon as possible, with the aim of having the preliminary budget ready by mid-March 2019.
The Company will provide further updates respecting the Norbeau Gold Project as circumstances warrant.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
C. 778-989-0770
Email: bill@hihoresources.com
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on http://www.sedar.com.
copyright (c) newsfile corp. 2019
News Provided by Newsfile via QuoteMedia
ProfitScout
6 years ago
HI HO SILVER RESOURCES TO ISSUE CONSULTING UNITS
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2019) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC Pink: HHSRF) (FSE: H9T1) ("Hi Ho" or the "Company") announces that it will issue 900,000 units (each, a "Consulting Unit") at a price of $0.10 per Consulting Unit to certain directors, officers and service providers of the Company as payment for services rendered pursuant to their consulting agreements. Each Consulting Unit is comprised of one common share and one transferable common share purchase warrant to purchase one additional share at an exercise price of $0.30 per share for a period of two years from the date of issuance.
The Company also announced that it will be returning to treasury 4,000,000 common shares that were previously issued pursuant to an agreement respecting the Norbeau Property (see the Company's press release dated August 2, 2017 for details respecting this agreement). The other party to the agreement has not fulfilled its obligations thereunder, and therefore the Company is returning the 4,000,000 shares to treasury. Following the issuance of the shares forming part of the Consulting Units and the return to treasury of the 4,000,000 shares, the Company will have 55,172,804 shares issued and outstanding.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
C. 778-989-0770
Email: bill@hihoresources.com
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on http://www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42534
News Provided by Newsfile via QuoteMedia
ProfitScout
6 years ago
HI HO SILVER ACQUIRES MAJOR GOLD LAND POSITION IN NORTH WESTERN QUEBEC, CANADA, AND ADJUSTS LAND HOLDINGS
Vancouver, British Columbia--(Newsfile Corp. - October 31, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC Pink: HHSRF) (FSE: H9T1) ("Hi Ho" or the "Company") has optioned a major land position totaling 1650 hectares in the Chibougamau Mining District of North Western Quebec, Canada.
Two contiguous properties, the Beaurox property comprising 28 unpatented mining claims covering approximately 1000 Ha, and the Norbeau property covering 637 Ha in two claim groups, both located in McKenzie Township, have been optioned by the Company from two separate owners.
Beaurox Property
The Beaurox option allows Hi Ho to acquire a 100% interest in the Beaurox property, subject to a 2.5% NSR royalty, requires annual cash payments, annual advance royalty payments, periodic issuances of stock, and work commitments until commercial production is attained.
Cash payments are $50,000 on October 28, 2018, being the effective date of the agreement, $70,000 on October 28, 2019, $70,000 on October 28, 2020, and $60,000 on October 28, 2021.
Issuances of stock under the Beaurox option comprise 750,000 shares 30 days from effective date, 750,000 shares on or before October 28, 2019, 1,000,000 shares on or before October 28, 2020, 1,000,000 shares on or before October 28, 2021, and an additional 1,000,000 shares on reaching a Drill Indicated Economic Reserve on the property or upon sale of the Beaurox property by Hi Ho.
Required expenditures under the Beaurox option comprise $300,000 on or before October 28, 2019, $1,500,000 on or before October 28, 2020, and $2,000,000 on or before October 28, 2021.
Annual Advanced Royalty Payments under the Beaurox option require annual payments to Beaurox of one kilogram of fine gold of no less than 99.9% purity commencing on the 3rd anniversary of the agreement and thereafter at 12 month intervals until commencement of commercial production. Payment in the alternative to fine gold can be made by substituting free and tradeable Hi Ho shares for debt at a 25% discount to market or payment of cash equivalent of one kilogram of fine gold.
Hi Ho has the right to purchase one half of the 2.5% NSR for payment of $3,000,000 cash.
Norbeau Property
The Norbeau option to reacquire 100% interest in the property, subject to a 2% NSR, requires annual cash payments, periodic issuance of stock, and annual work commitments. This property, previously held by Hi Ho, was subject to forfeiture, and is being reacquired together with additional claims from the previous vendor.
Cash payments consist of $25,000 on the effective date of September 20,2018, $25,000 on or before January 20, 2019, $50,000 on or before September 20, 2019, $60,000 on or before September 20, 2020, and $60,000 on or before September 20, 2021.
Stock issuances under the Norbeau option consist of 750,000 shares 15 days after effective date, 750,000 shares on or before September 20, 2019, 1,000,000 shares on or before September 20, 2020, and 1,000,000 shares on or before September 20, 2021.
Work commitments under the Norbeau option consist of $300,000 on or before September 20, 2019, $1,500,000 on or before September 20, 2020, and $2,000,000 on or before September 20, 2021.
The NSR can be reduced at any time to 1% by paying the vendor $1,000,000.
Both the Beaurox and the Norbeau properties are underlain by favourable Precambrian volcanic stratigraphy that is prospective for gold mineralization. Several zones of mineralization are present on each property. The Norbeau Mine was previously mined through a shaft extending to 1200 feet with development at several levels. Production at Norbeau in the period from 1965 to 1969 totalled 419,029 tonnes grading 13.77 g/t (0.38 oz/t gold). The mine was closed when gold was fixed at $35 per ounce and has remained inactive. A major program to establish a current gold resource and redevelop the area is envisioned.
Nik Property
The reduce work commitments, the Company has relinquished its option to acquire the Nik property, located in British Columbia, Canada, and has returned the property to the vendors.
Silver Reef Property
The Company has relinquished the Silver Reef property located in San Bernardino County, California, to avoid additional expenditures, and has transferred the claims.
This press release has been prepared by and approved by Dr Stewart A. Jackson, PGeo., a Qualified Person under National Instrument 43-101, and Technical Advisor to Hi Ho Silver Resources Inc.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
C. 778-989-0770
Email: bill@hihoresources.com
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
copyright (c) newsfile corp. 2018
News Provided by Newsfile via QuoteMedia
ProfitScout
6 years ago
HI HO SILVER RESOURCES INC. FILES STRUCTURAL ANALYSIS, BRALORNE HOLDINGS, BRIDGE RIVER, B.C., CANADA
Vancouver, British Columbia--(Newsfile Corp. - October 9, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC: HHSRF) has filed a structural analysis of lineaments, and a comprehensive compilation of historical data, as well as current surface grab sampling as part of ongoing assessment requirements for the Bralorne Property, Bridge River, B.C., Canada. The extensive property includes three Mineral Tenures covering 1432.22 hA adjoining to the south the extensive productive operations of the Bralorne and Pioneer Mines operated by International Avino Mines Ltd., which have produced 4.1 million ounces of gold and 32 million ounces of silver, over the past century and a half.
The extensive report by Laurence Sookochoff, P.Eng., which will also be filed on the Hi Ho Silver website,includes a structural analysis of lineaments as derived from aerial photographs, as well as a compilation of all historical data on the property. Multiple gold-bearing vein systems on the property have historically been explored extensively but sporadically in several areas, including the historical extension of drifting southward from the Pioneer onto the current property which includes the Pioneer Extension.
Compilation of data by Sookochoff has indicated that the Pioneer Extension vein system, developed on the Hi Ho Bralorne property, included 4 large veins, the 77, 51, 21, and the main vein. The main vein averaged 1.2 -2 meters wide, over a strike length ranging from 1000 to 1500 meters. The vein extends down dip for 1500-200 meters and represents a significant gold exploration target within the Bralorne Property.
Additional prospects, the Paymaster, Red Hawk, Mix, Holland, and Dan Tucker veins present significant exploration targets which have undergone variable amounts of work demonstrating considerable gold exploration potential.
Structural analysis of lineaments has led to recommendations by Sookochoff for intensified prospecting and exploration in three separate target areas within the property.
Hi Ho Silver Inc., looks forward to continuing exploration on this major land holding in the prospective Bralorne-Pioneer region of Bridge River.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
C. 778-989-0770
Email: bill@hihoresources.com
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
News Provided by Newsfile via QuoteMedia
ProfitScout
6 years ago
HI HO SILVER RESOURCES CLOSES TRANCHE OF PRIVATE PLACEMENT
Vancouver, British Columbia--(Newsfile Corp. - August 31, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC Pink: HHSRF) (FSE: H9T1) ("Hi Ho" or the "Company") is pleased to announce that, further to its news release dated June 15, 2018, it has closed a tranche of its non-brokered private placement for gross proceeds of $22,000 through the sale of 220,000 units (each, a "Financing Unit") at a price of $0.10 per Financing Unit. Each Financing Unit consists of one common share and one transferable common share purchase warrant exercisable for an additional share at an exercise price of $0.30 for one year following closing. The proceeds of the private placement will be used for general working capital. The securities issued in the private placement are subject to a four month hold period, expiring January 1, 2019.
The Company intends to continue to raise up to an additional $1,500,000 under the private placement of Financing Units.
The Company also announced that it has issued 760,000 units (each, a "Consulting Unit") at a price of $0.10 per Consulting Unit to certain directors, officers and service providers of the Company as payment for services rendered pursuant to their consulting agreements. Each Consulting Unit is comprised of one common share and one transferable common share purchase warrant to purchase one additional share at an exercise price of $0.30 per share for a period of two years from the date of issuance. The securities issued to the directors, officers and service providers are subject to a four month hold period, expiring January 1, 2019.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
C. 778-989-0770
Email: bill@hihoresources.com
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
News Provided by Newsfile via QuoteMedia
ProfitScout
6 years ago
Hi Ho Silver Resources Announces Mineral Tenure Option and Sale Agreement
Vancouver, British Columbia--(Newsfile Corp. - July 10, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC: HHSRF) (Stuttgart: H9) ("Hi Ho" or the "Company") is pleased to announce that the Company has granted an option and sales agreement to 1150892 B.C. Ltd. for the Fairview Gold Tenures owned by Hi Ho and located in the Osoyoos Mining District.
Hi Ho will receive $1,500,000 for the "option" portion of the agreement, under which, upon exercise of the option, 1150892 B.C. Ltd. will receive 75% ownership and Hi Ho will retain 25% ownership in a Joint Venture. 1150892 B.C. Ltd. has a further sales option to purchase the remaining 25% for an additional $1,000,000, 500,000 common shares of 1150892 B.C. Ltd. and a net smelter reserve (NSR) of 3%.
The Company also announces that Mr. Gary Jorgenson has resigned as a director and as President of the Company, so that he can enjoy retirement. Mr. Steve Jorgenson has resigned from his position as Vice President and has replaced Gary as President of the Company. Steve has also been appointed to the Company's board of directors.
In addition, Mr. Kevin Jorgenson has been appointed as Vice President of the Company. In connection with his appointment, Kevin has entered into a consulting agreement with the Company under which he will receive monthly remuneration of $3,000 and 30,000 units, with each unit having a deemed price of $0.10 and being comprised of one common share of the Company and one common share purchase warrant (each warrant exercisable for two years from the date of issuance at an exercise price of $0.30).
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
Telephone: 778-989-0770
Email: bill@hihoresources.com
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
ProfitScout
6 years ago
HI HO SILVER RESOURCES CLOSES TRANCHE OF PRIVATE PLACEMENT
Vancouver, June 15, 2018. Hi Ho Silver Resources Inc. (“Hi Ho” or the “Company”) (HHS – CSE; HHSRF – OTC; Stuttgart – H9) is pleased to announce that, further to its news releases dated September 13, 2017, February 6, 2018, and May 2, 2018, it has closed a tranche of its non-brokered private placement for gross proceeds of $596,000 through the sale of 5,960,000 units (each, a “Financing Unit”) at a price of $0.10 per Financing Unit. Each Financing Unit consists of one common share and one transferable common share purchase warrant exercisable for an additional share at an exercise price of $0.30 for one year following closing. The proceeds of the private placement will be used for general working capital. The securities issued in the private placement are subject to a four month hold period, expiring October 16, 2018.
The Company intends to continue to raise up to an additional $1,500,000 under the private placement of Financing Units.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
Telephone: 778-989-0770
Email: bill@hihoresources.com
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate’, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.
ProfitScout
6 years ago
Hi Ho Silver Resources Inc. Announces "Strategic Investor" $1,000,000 Commitment
Newsfile Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC: HHSRF) (Stuttgart: H9) (" Hi Ho" or the " Company"), is pleased to announce that a Strategic Investor (1166847 BC Ltd.) has committed to invest $1,000,000 CDN in the company's Private Placement at a price of $0.10 per unit. As a result, Hi Ho has agreed to allow 1166847 BC Ltd. first Option to Joint Venture two properties which Hi Ho owns and manages. These properties are 1) Bralorne Gold Property (near Lillooet BC) and 2) NIK Cobalt/Nickel Property located in north central BC.
This corporate strategy will also allow the Strategic Investor to explore additional Hi Ho properties with the prospect of completing further Joint Venture projects. This strategy has the potential to increase shareholder wealth, provide ongoing cash flow and allow management to maintain Hi Ho's competitive fitness and ensure longevity. Hi Ho will retain part ownership of properties and a percentage of NSR. The investor will provide all funding to complete projects.
An ideal strategic investment partnership is when both parties mutually benefit. Hi Ho looks forward to a long and rewarding relationship and the development of at least two of its highly regarded properties.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base-metal mineral deposits in North America and elsewhere.
On Behalf of the Board of Directors,
William Jorgenson
CEO & CHAIRMAN
For further information please contact:
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com .
http://www.newsfilecorp.com/newsinfo.php?i=[NEWSID]&f=[FEEDID]
ProfitScout
6 years ago
Hi Ho Silver Resources Inc. Announces 10,000 Kg Order of Canadian Kootenay Clay(TM)
Newsfile Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 29, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC: HHSRF) (Stuttgart: H9) (" Hi Ho" or the " Company"), announces its first 10,000 kg sample order with NHP Industries Inc. (" The Representative"). The Representative holds the exclusive distribution rights to a claim containing "Canadian Kootenay Clay™" of the highest quality from the illite clay property located in the Kootenay region in British Columbia.
The Representative, or its associate partners, is committed to complete all aspects of an agreement signed earlier this year. The Company hopes to make delivery of this initial order by mid-June, 2018.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base-metal mineral deposits in North America and elsewhere.
On Behalf of the Board of Directors,
William Jorgenson
President & CEO
C. 778-989-0770
Email: bill@hihoresources.com
For further information please contact:
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com .
http://www.newsfilecorp.com/newsinfo.php?i=[NEWSID]&f=[FEEDID]
ProfitScout
6 years ago
HI HO SILVER RESOURCES CLOSES PRIVATE PLACEMENT
Vancouver, British Columbia--(Newsfile Corp. - May 2, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC: HHSRF) (Stuttgart: H9) ("Hi Ho" or the "Company") is pleased to announce that, further to its news releases dated September 13, 2017 and February 6, 2018, it has closed a non-brokered private placement for gross proceeds of $342,000 through the sale of 3,420,000 units (each, a "Financing Unit") at a price of $0.10 per Financing Unit. Each Financing Unit consists of one common share and one transferable common share purchase warrant exercisable for an additional share at an exercise price of $0.30 for one year following closing. The proceeds of the private placement will be used for general working capital. The securities issued in the private placement are subject to a four month hold period, expiring September 3, 2018.
The Company intends to continue to raise up to an additional $1,500,000 under the private placement of Financing Units.
The Company also announced that it has issued 620,000 units (each, a "Consulting Unit") to certain directors, officers and service providers of the Company as payment for services rendered pursuant to their consulting agreements. Each Consulting Unit is comprised of one common share and one transferable common share purchase warrant to purchase one additional share at an exercise price of $0.30 per share for a period of two years from the date of issuance. The securities issued in the private placement are subject to a four month hold period, expiring September 3, 2018.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
C. 778-989-0770
Email: bill@hihoresources.com
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
News Provided by Newsfile via QuoteMedia
ProfitScout
6 years ago
HI HO SILVER RESOURCES INC. ANNOUNCES UPDATE ON CANADIAN KOOTENAY CLAY(TM)
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC: HHSRF) ("Hi Ho" or the "Company"), wishes to provide an update to its March 14, 2018 press release announcing that it had entered into an agreement for the worldwide distribution of "Canadian Kootenay Clay™ with NHP Industries Inc. ("The Representative"). The Company has the exclusive rights to a claim containing "Canadian Kootenay Clay" of the highest quality from the Illite clay property located in the Kootenay region in British Columbia, Canada.
The Representative, or its associate partners, is also committed to invest an additional $1,000,000 (one million Canadian dollars) in Hi Ho Silver Resources Inc. by way of a private placement subscription completed by March 31, 2018. Due to incremental winter weather, the Company has granted an extension until the removal of the clay commences, which the Company anticipates being some time in May.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base-metal mineral deposits in North America and elsewhere.
On Behalf of the Board of Directors,
William Jorgenson
CHAIRMAN & CEO
For further information please contact:
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
News Provided by Newsfile via QuoteMedia
ProfitScout
6 years ago
HI HO SILVER RESOURCES ANNOUNCES ADDITION TO BOARD OF DIRECTORS AND CHANGE OF OFFICERS
Vancouver, British Columbia--(Newsfile Corp. - March 29, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC: HHSRF) ("Hi Ho" or the "Company") is pleased to announce that Dennis Jorgenson has been added to the board of directors of the Company, effective immediately.
The Company also announces that Mr. Milan Gubash has resigned as President of the Company, although he will continue as a director of the Company. Mr. Gary Jorgensen has replaced Mr. Gubash as President of the Company, resigning from his position as Vice President. Mr. Steve Jorgenson has been appointed as Vice President of the Company, effective immediately.
In addition, the Company announces that the remuneration under the consulting agreements of certain of the officers and directors of the Company has been amended, effective April 1, 2018. In particular: Gary Jorgenson's monthly remuneration will be increased to 50,000 shares (from 40,000 shares); Milan Gubash's monthly remuneration has been increased to 30,000 shares (from 20,000 shares; his monthly cash remuneration of $2,000 remains unchanged); Bill Jorgenson's monthly remuneration will be increased to $5,000 cash (from $3,000; his monthly remuneration of 50,000 shares remains unchanged); and Steve Jorgenson's monthly remuneration will be increased to $4,000 cash (from $2,000) and 40,000 shares (from 20,000 shares). Steve Jorgenson was also issued 500,000 stock options, each having an exercise price of $0.05, vesting immediately and expiring five years from the date of grant. The grant of options is subject to the Company's stock option plan, the policies of the Canadian Securities Exchange and applicable securities laws.
The Company further announces that each of Bill Jorgenson and Gary Jorgenson has exercised 1,500,000 stock options, each option having an exercise price of $0.075. In connection with the options exercise, each of Bill and Gary entered into loan agreements with the Company under which the Company loaned each of them $112,500 to be used to exercise the stock options. Under each loan agreement, the loan will be immediately repayable if the borrower voluntarily resigns as an officer of the Company or is terminated or removed as an officer of the Company for cause. Each loan will be forgiven if the borrower continues to be an officer of the Company two years from the date of the loan, the borrower is terminated as an officer of the Company without cause, or the borrower ceases to be an officer of the Company as a result of death or disability. No interest is payable under the loan agreements.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base-metal mineral deposits in North America and elsewhere.
On Behalf of the Board of Directors,
William Jorgenson, Chairman and CEO
C: 778.989.0770
Email: bill@hihoresources.com
For further information please contact:
Website: http://www.hihoresources.com
###
This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release.
News Provided by Newsfile via QuoteMedia
ProfitScout
6 years ago
HI HO SILVER RESOURCES INC. ANNOUNCES MAJOR AGREEMENT FOR WORLDWIDE DISTRIBUTION OF CANADIAN KOOTENAY CLAY(R)(TM)
Vancouver, British Columbia--(Newsfile Corp. - March 15, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC: HHSRF) ("Hi Ho" or the "Company"), Stuttgart Symbol "H9") is pleased to announce that, further to its news releases dated February 2, 2018, the Company has entered into an agreement for the worldwide distribution of "Canadian Kootenay Clay™ with NHP Industries Inc. ("The Representative"). The Company has the exclusive rights to a claim containing "Canadian Kootenay Clay" of the highest quality from the Illite clay property located in the Kootenay region in British Columbia, Canada.
The Representative has the business networking and connections in The People's Republic of China, and the world, for marketing, distribution and sales of Canadian Kootenay Clay™ in processed and standardized raw concentrate materials as well as finished product form, to China and the world.
The consideration to be paid by the representative to the company for the granting of the exclusive rights under this agreement will be $1,000,000 (one million Canadian dollars).
The terms of the agreement will be ten (10) years with an option to renew for an additional ten (10) years.
The Representative, or its associate partners, is also committed to invest an additional $1,000,000 (one million Canadian dollars) in Hi Ho Silver Resources Inc. by way of a private placement subscription completed by March 31, 2018.
The initial order of 10,000 kgs, and subsequent orders, will be delivered to the Representative's Burnaby location at an agreed upon price as early as possible and The Company will warehouse a significant supply of product for future orders and winter mine closures.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base-metal mineral deposits in North America and elsewhere.
On Behalf of the Board of Directors,
William Jorgenson
CHAIRMAN & CEO
C. 778-989-0770
Email: bill@hihoresources.com
For further information please contact:
Website: http://www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
News Provided by Newsfile via QuoteMedia
JonnyRBuck12
7 years ago
HHS.C Due Diligence Report
(All Information Can Be Found From Company January 2018 Presentation)
Contact bill@hihosilverresources.com For A Copy
Price: $0.035 (10 year low)
Common Shares: 36,407,804 (As Of October 31st 2017)
Insider/Institutional Holdings: 9,342,350 or 25.6%
Warrants: 6,590,000 – Exercisable between $0.20 - $0.30
Options: 7,000,000 – Exercisable between $0.05 - $0.10
Fully Diluted: 49,997,804
Notes:
- 6.8 million shares at the start of 2017 with higher costs from previous years(rolled back already)
- All money raised and shares issued in 2017 at a price of 10 cents only
Company Projects
1) Illite Clay Property (Acquired October 2017)
X-Ray diffraction confirmed this clay is Illite adsorptive clay, similar to the famous green healing clay from France. Presently clay is distributed to major spas with high markup.
Potential external uses for Illite clay are:
- Rejuvenating face mask and exfoliation
- Adsorbs acne
- Lifts wrinkles
- Heals burns, bee stings, insect bites, rashes and inflammation
- Sunscreen
- Toothpaste
•Round trip from harvesting site to Vancouver port facility is 2000 kilometers
•Mine site located at 1300 meter elevation, snow-free from June through November
•Time frame to obtain government permits is 2-4 months
**Note** French Green Clay currently sells on Amazon for $18 CDN for 1KG.
Link: https://www.amazon.ca/French-Green-Clay-Natural-Regenerator/dp/B006Y8F75A
2) Fairview Gold Project
•Fairview property, Oliver, Okanagan Valley, British Columbia
•Inferred gold resource of 32,000 oz., and a silver content of 192,000 ounces (N.I. 43-101).
•Underground configuration to be developed by an adit driven horizontally to intersect the mineralization.
•Inferred Resource based on 47 drill holes, and may possibly be expanded by exploration to potentially reach 200,000 ounces gold.
•This is a conceptual exploration target for between 550,000 and 650,000 tonnes grading between 0.29-0.31 oz/t gold
•Hi Ho Resources Inc. holds a large land position on the property.
•Mill capacity is available nearby in Greenwood or Merritt.
•A drilling program to be completed with $300,000 financing.
•Production may move rapidly when funded.
3) Norbeau Gold Project, Quebec
•Former gold producer developed on 12 levels to 12oo feet.
•Optioned to Itoco Mining Corp. with 5% retained net profits interest.
•Equity position plus NPI – 4 million shares (approximately 15%)
•Hi Ho Resources Inc. holds 4 million shares of Itoco Mining Corp. as part of development funding for Norbeau.
•Original mine produced 419,000 tons grading 13.77 oz./t gold 1965-1969
•Conceptual exploration potential 2-10 million tonnes grading 0.6-0.7 g/t gold
4) Canamara Iron & Titanium Corporation, Quebec
•Hi Ho Silver Resources Inc. equity position approx. 8% (2,000,000 shares plus 2,000,000 warrants)
•Canamara, private company, extensive high-grade hard-rock Titanium Properties Quebec, adjacent Rio Tinto’s Lac Tio Titanium mine, a producer for sixty-five years
•Known exploration targets (drilled in part) potential 140-160 million tonnes grading 38-40% Ti O2.\
•World-class high-grade Titanium as Ilmenite (Titanium/Iron Oxide)••Very large district resource exploration potential to be drilled, geophysically outlined
5) ADDITONAL LAND CLAIMS & PROPERTIES
•Bralorne Gold Project, BC
•Silver Reef Gold Project, California
•Bonanza Prospect Gold/Silver/Lead/Zinc/Copper, BC
•Abbott Prospect Gold/Silver/Lead/Zinc, BC
•Omenica Cobalt/Nickel/Platinum, BC
News Release Today:
Hi Ho to buy polymetallic B.C. property for $100,000
2018-01-24 13:36 MT - News Release
Mr. William Jorgenson reports
HI HO SILVER RESOURCES INC., SIGNS OPTION AGREEMENT ON COBALT & NICKEL- PLATINUM AND COPPER-MOLYBDENUM PROPERTY LOCATED IN THE OMINECA MINING DISTRICT OF CENTRAL BRITISH COLUMBIA, CANADA
Hi Ho Silver Resources Inc. has been granted an option to acquire a 100-per-cent interest in a property prospective for both nickel-cobalt-platinum and copper-molybdenum, located in the Omineca mining district of Central British Columbia, Canada.
The prospect lies within an intrusive ultramafic unit that is strongly anomalous in nickel, cobalt and platinum to a level in oil and rock rubble samples that approximate the levels in a major nickel-cobalt resource in similar rocks of the Turnagain mafic complex to the north. The property is also prospective for copper and molybdenum in the surrounding intrusive rocks, based on 17 drill holes by BP in 1973, that encountered significant long intervals of copper and molybdenum mineralization. The property covers 1066 hectares over 67 claims, plus any adjoining property that may be acquired by either party. Road access is available to the property and power lines are located within 10 miles of the property.
To exercise the option and earn its interest in the property, Hi Ho must make total cash payments of $100,000 and issue a total of two million common shares to the optionors in stages as follows:
· A total $20,000 cash, of which $1,000 has been paid and, on signing of a formal option agreement, the balance of $19,000 cash, plus 500,000 common shares;
· On the first anniversary date of the option agreement, $20,000 cash plus 500,000 common shares;
· On the second anniversary date, $30,000 cash plus 500,000 common shares;
· On the third anniversary date, $30,000 plus 500,000 common shares.
Upon Hi Ho exercising the option and acquiring a 100-per-cent interest in the property, the optionors will retain a 2-per-cent net smelter returns royalty of which 1-per-cent may be purchased at any time for $1-million.
Hi Ho intends to pay finders' fees either in common shares or cash in connection with the option.
Geochemical values from surface gossanous material are: Nickel 1,800 parts per million, cobalt 153 ppm and platinum 2,200 parts per billion. The cobalt is particularly of interest as this approximates the cobalt content of the Turnagain drilled resource of nickel-cobalt lying in a more northern portion of the nickel mineralized belt. Copper and molybdenum values were encountered over substantial thicknesses in 18 holes drilled by BP in 1973. Among the better intersections are in Hole No. 8 a zone of 230 feet assaying 0.21 per cent copper, 0.02 per cent molybdenum; Hole No. 7, 50 feet of 0.44 per cent copper and 0.019 per cent molybdenum, 50 feet of 0.18 per cent copper and 0.023 per cent molybdenum, and 50 feet of 0.14 per cent copper and 0.006 per cent molybdenum; Hole No. 6 returned 140 feet of 0.13 per cent copper and 0.002 per cent molybdenum. Hole No. 2 returned 100 feet of 0.3 per cent copper.
Anomalous gold has also been encountered in grab samples from the property.
Exploration potential for the property is believed to be substantial. There are no established reserves or resources on the property, and it will require exploration and redevelopment work and sampling to establish any resource or reserve. There can be no assurance that a resource can be established, or if established that such will be economically recoverable.
The company has issued 260,000 units at a deemed price of 10 cents per Unit to certain directors and officers of the company as payment for services rendered pursuant to consulting agreements. Each unit comprises one common share and one transferable common share purchase warrant to purchase one additional share at an exercise price of 30 cents per share for a period of two years from the date of issuance.
About Hi Ho Silver Resources Inc.
Hi Ho Silver Resources is a Vancouver-based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
This press release has been reviewed and approved by Dr. Stewart Jackson, PGeo, a qualified person and technical adviser to Hi Ho.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.