Burin Gold Corp. (“
Burin Gold” or the
“
Company”) is pleased to announce that its common
shares will commence trading on the TSX Venture Exchange
(“
TSX-V”) today at market open under the symbol
“
BURG”. This follows the closing of the Company’s
successful initial public offering (“
IPO”) led by
Haywood Securities Inc. and Laurentian Bank Securities Inc. and
including Echelon Wealth Partners Inc.
David Clark, CEO of the Company, said: “On
behalf of Burin Gold, I would like to thank our existing and new
shareholders for their support throughout this successful IPO
process. We are looking forward to starting this next pivotal
chapter of Burin Gold’s growth as a listed company and owe our
thanks to our shareholders, consultants, and partners for helping
the Company to reach this important milestone. I also would like to
thank Plethora Private Equity Fund for their belief in the
potential of this project and their support in incubating the
Company since 2018. The proceeds from the IPO will be used to
execute our planned exploration programs on the Hickey’s Pond –
Paradise Gold project located in eastern Newfoundland.”
Phillip Walford, Chair of the Board, said: “On
behalf of the Board of Burin Gold, I would like to thank all those
who contributed to this successful IPO. This financing enables the
Company to conduct a well-designed exploration program in 2022 with
an initial focus on the Hickey’s Pond gold zone followed by
exploration on the known but currently under-explored and undrilled
epithermal gold showings elsewhere on the large property. It is
going to be an exciting year for Burin Gold and Burin Gold
shareholders.”
Burin Gold is a new public company currently
focused on follow-on drilling at its prospective Hickey’s
Pond-Paradise Gold Project where a 2020 drill program intersected
mineralisation of 58.25 m of 1.12 g/t gold from surface, including
10.80 m of 4.43 g/t gold (see the Company’s news release of
February 24, 2021, issued under its previous name of Bonavista
Resources Corp.) The Company operates in an under-explored district
of Newfoundland, Canada; a tier-one jurisdiction recognized for
mining investment based on mineral potential, favourable
geopolitical jurisdiction, historical mining, and ongoing
exploration successes. Burin Gold is led by a Board and Executive
Management team with a strong track record of achievement,
particularly in Newfoundland. The Board includes Phillip Walford as
Chair, founder and former President & CEO of Marathon Gold
Corporation (“Marathon”) and Sherry Dunsworth,
former Senior Vice President of Exploration at Marathon. Both Mr.
Walford and Ms. Dunsworth were awarded the 2021 PDAC Prospector of
the Year Award for their contributions to the discovery of the
Valentine Gold Project in Newfoundland during their time at
Marathon.
The Company’s principal asset is its Hickey’s
Pond – Paradise Gold Project on the Burin Peninsula of the island
of Newfoundland. The project includes the Hickey’s Pond prospect,
drill tested by Burin in 2020, as well as several promising
historical showings that have yet to be drill tested. The Company’s
immediate focus will be the initiation of an airborne geophysical
survey over the entirety of its mineral licences, to complement
previous smaller geophysical programs as well as the signing of a
contract for diamond drilling services for its planned drilling
program, due to commence in Q1/2022. The project is fully permitted
for diamond drilling.
Hickey’s Pond – Paradise Gold
Project
The Company’s Hickey’s Pond – Paradise Gold project consists of
mineral licences covering 159 km2 located on the Burin Peninsula,
in the eastern part of the island of Newfoundland. The project
covers a more than 20 km strike length of highly perspective ground
including two parallel alternation trends hosting numerous
undrilled high sulphidation epithermal gold showings. The most
advanced showing, historically referred to as the Hickey’s Pond
showing, consists of a folded auriferous alteration zone
characterized by significant gold grades and widths exposed over
250 m strike length. This showing is hosted within a large
north-east trending, >10 km alteration system that has received
limited historical exploration. The Company, active in Newfoundland
since 2018 (until early 2021 operating as a private company under
its former name of Bonavista Resources Corp.) has significantly
advanced the property through several exploration programs,
including a 2018 channel sampling program that returned results of
20.0 m of 9.34 g/t Au (see Bonavista Resources Corp. news release
of September 12, 2018), airborne geophysics that outlined a 7 km
long chargeability anomaly coincident with surface mineralisation
at Hickey’s Pond, and most recently a seven hole, 1026 metre
diamond drill program at the Hickey’s Pond prospect in late 2020.
This initial drill program at Hickey’s Pond intersected a best
result of 10.8 m of 4.43 g/t Au at shallow depth.
Additional information about Burin and its
Hickey’s Pond – Paradise Gold Project can be found on SEDAR at
www.sedar.com and on the Company’s website at
www.burin-gold.com.
Introductory Webinar
Burin Gold hosted an introductory webinar on November 22nd,
after the closing of its IPO. David Clark, Burin’s President &
CEO, provided an overview of the company and its flagship Hickey’s
Pond – Paradise Gold Project. A recording of the webinar is
available and can be accessed via the following link:
youtu.be/Q_TxCfA5GA4
About Burin Gold Corp.
Burin Gold is a newly listed public company on
the TSX Venture Exchange. The Company’s principal asset is its
Hickey’s Pond – Paradise Gold Project on the Burin Peninsula,
Newfoundland. This project contains the Hickey’s Pond gold
prospect, drill tested with an initial 1,000 m drill program in
2020 with best results of 10.8 m of 4.43 g/t Au, as well as
numerous other historical high-sulphidation epithermal gold
showings that have yet to be drill tested. With the successful
completion of its IPO, the Company is well-positioned to commence a
significant diamond drilling campaign at the Hickey’s Pond
prospect, planned to start Q1/2022.
Qualified Person
David Clark, MSc, PGeo, CEO of Burin Gold, is
the Company’s designated Qualified Person within the meaning of
National Instrument 43-101 Standards of Disclosure for Mineral
Projects (“NI 43-101”). He has prepared the
technical content of this news release.
Acknowledgement
The Company acknowledges the financial assistance of the Mineral
Development Division, Department of Industry, Energy, and
Technology, Government of Newfoundland & Labrador, via its
Junior Exploration Assistance Program. The program provides
valuable financial rebates on exploration expenditures made in the
province to qualifying exploration companies. The Company has
benefited from the program yearly since 2018.
On behalf of the Board
“David Clark”CEO & Director
For Further Information:
David ClarkCEO & DirectorBurin Gold Corp.1-877-620-4185 –
toll freeinfo@burin-gold.com
Forward Looking Statements
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This News Release includes certain
“forward-looking statements” which are not comprised of historical
facts. Forward looking statements include estimates and statements
that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or management
expects a stated condition or result to occur. Forward looking
statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this
news release includes, but is not limited to, the Company’s
objectives, goals or future plans, statements, exploration results,
potential mineralization, the estimation of mineral resources,
exploration and mine development plans, timing of the commencement
of operations and estimates of market conditions. Factors that
could cause actual results to differ materially from such
forward-looking information include, but are not limited to failure
to identify mineral resources, failure to convert estimated mineral
resources to reserves, the inability to complete a feasibility
study which recommends a production decision, the preliminary
nature of metallurgical test results, delays in obtaining or
failures to obtain required governmental, environmental or other
project approvals, political risks, inability to fulfill the duty
to accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry, an inability to
predict and counteract the effects of COVID-19 on the business of
the Company, including but not limited to the effects of COVID-19
on the price of commodities, capital market conditions, restriction
on labour and international travel and supply chains, and those
risks set out in the Company’s public documents filed on SEDAR.
Although the Company believes that the assumptions and factors used
in preparing the forward-looking information in this news release
are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
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