VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 26, 2016) - (OTCQB:BLXX) Blox, Inc, ("BLOX" or the "Company") is pleased to announce the upcoming field work program at its Mansounia gold concession in, Guinea, West Africa. The Company is currently finalizing the scope of the work and expects to have crews on site in the third quarter of 2016. Mansounia has a Mineral Resource Estimate of 1.3Moz (in accordance with the JORC guidelines and code for the Reporting or Mineral Resource Estimates, 2011) and is the prime focus for Blox in the short to medium term.
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I am very pleased to announce the initial phase of field works to begin on the Mansounia concession in Guinea, which is scheduled to commence within the third quarter of 2016. This good news comes after several meetings with our in-country manager in Conakry, Guinea and various specialist consultants. The timing of the programs is critical due to the weather patterns in Guinea at present and that is why we are endeavouring to put a team on the ground as soon as is practicable. It is anticipated that the data gathered will contribute to both our overall picture of the huge 175 square-kilometre concession and also become part of our impending Pre-Feasibility Study. As Chair of the Board it is invigorating to see the Company move into action on site - a move that perfectly complements the positive year of consolidation and planning we have experienced at Blox, Inc.
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Strategy and Board Focus.
The Board recognizes that now is the time to move forward with the focus on Blox, Inc's core asset - Mansounia. The concession holds over a million ounces of inferred gold in the ground and those ounces are becoming more valuable as the spot price of gold continues its steady climb. In response to these positive market conditions management has prepared field programs to extend the Company's scope of knowledge about the concession and prepare for more exhaustive studies to come in the near future. The board is very excited about the potential of our Guinea property.
The Board is responsible for leading by example and ensuring that a robust governance structure is in place to enable the business to succeed and deliver long-term sustainable growth. As part of this responsibility the Board has continued in 2016 to actively grow the business by meeting with key companies and contractors in a range of areas. The Chairman recently visited Conakry in Guinea and was given a detailed update from the team on the ground and was brought up to date on the state of our concession.
To enforce the importance of good governance and setting the right standards throughout the company, we have re-assessed and updated our Code of Conduct, setting out the values and standards we expect in the normal course of business. This code covers issues such as health and safety, conduct, diversity, financial controls and business integrity, productivity, staff welfare, due diligence and more. Once approved by the Board, the new Code of Conduct will be available on our website.
On behalf of the Board, the Chairman would like to thank the wonderful management team, all the staff and the companies that continue to contribute to the success of Blox, Inc. The Chairman and the remainder of the Board look forward to seeing the results of the field program at Mansounia over the coming period.
Scientific and technical information in this press release has been reviewed and approved by Robert Spiers (MAIG), a "qualified person" under JORC 2012 and NI 43-101.
Cautionary Note Regarding Forward-looking Information
Forward Looking Statement Disclaimer This press release may present "forward-looking statements" within the meaning of applicable securities legislation that involve inherent risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect continuing the economic re-assessment of our assets in Guinea and Ghana, or potentially moving into production in the medium term. Generally, these forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". OTCQB: BLXX www.bloxinc.com Tel: +1 604 606 4236 701 West Georgia Street Vancouver, CANADA. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Blox, Inc. or the combined company to be materially different from those expressed or implied by such forward looking statements, including but not limited to: risks related to international operations, risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management and officers of Blox, Inc believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Blox, Inc. does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.