LIDA dumped $130K for one month of PUMPING
Lida Resources plans work at San Vincente, Quiruvilca
2020-11-05 13:22 ET - News Release
Mr. Leonard De Melt reports
LIDA RESOURCES PROVIDES CORPORATE UPDATE AND ANNOUNCES RESIGNATION OF DIRECTOR
Lida Resources Inc. has provided an update on work being planned on the company's 100-per-cent-owned San Vicente project and nearby Quiruvilca mine property in Peru.
Due to the COVID-19 pandemic that began in March, 2020, exploration work on the company's properties in Peru has been delayed. The company is now finalizing an agreement with JDS Energy and Mining Inc. for work on the San Vincente and Quiruvilca properties to determine an optimal mine size and type and to provide a plan for advancing the project, including the necessary field programs and studies. Project development will likely include, and not be limited to, definition drilling, resource estimation, engineering field programs and engineering studies up to a feasibility study. The initial work phase is scheduled to commence with a two-day site visit in November, 2020, and run to the end of 2020, resulting in a project development plan.
Director resignation
The company also announces Erick Underwood has resigned as a director of Lida effective Oct. 29, 2020. The company would like to thank Mr. Underwood for his contributions to the company and wishes him well in his future endeavours.
World Wide Media Group LLC agreement
Further to its press release of Oct. 20, 2020, the company confirms that it retained World Wide Media Group on Sept. 22, 2020, for cash consideration of $130,000 (U.S.) for a term of 30 days. During such engagement, World Wide (on behalf of the company) paid for certain marketing materials to be disseminated via Wall Street alerts on Oct. 19, 2020, and Oct. 20, 2020. The company confirms that the contract with World Wide has expired and that the company has adopted a policy to ensure it reviews any marketing materials published on its behalf in the future.
About Lida Resources Inc.
Lida acquires properties by staking initial mineral claims, negotiating for permits from government authorities, acquiring mineral claims or permits from existing holders, entering into option agreements to acquire interests in mineral claims or purchasing companies with mineral claims or permits. On these properties, the company explores for minerals on its own or in joint ventures with others. Exploration for metals usually includes surface sampling, airborne and/or ground geophysical surveys and drilling. The company is not limited to any particular metal or region, but the corporate focus is on precious and base metals in South America, specifically Peru, as at the date hereof.
We seek Safe Harbor.