TORONTO, ONTARIO--(Marketwired - Aug. 18, 2016) - Signature Resources Ltd. (TSX VENTURE:SGU)(OTC PINK:SGGTF) ("Signature" or the "Company") is pleased to announce that it has mobilized it's Geologist and Geotech to its Lingman Lake gold property to undertake an inventory of archived core stored at the mine site.
Upon completion of the inventory, core assessment, and after a thorough review of the drill hole data base, the Company intends to undertake a program of core re-logging and sampling of select holes which are representative of the gold mineralized zones. The information generated from this program will be used to under-pin the historic geological data.
"We are excited to launch this initial phase of our evaluation and development of the Lingman Lake gold property. After many years of relentless hard work and steadfast dedication, we have attained a milestone in the renaissance of the Lingman Lake gold mine", commented Walter Hanych, President and CEO.
The Lingman Lake gold property consists of four free hold patented claims and the twelve staked claims, comprising 606.8 hectares. The property hosts an historic estimate of 234,684 oz of gold* and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*Cautionary Note. The quantity reported as 'historical' estimate is historic in nature: A qualified person has not done sufficient work to classify the historical estimate as a current resource estimate. The issuer is not treating the historical estimate as a current resource estimate
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 news release.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.