Gold79 Completes 3rd Option Payment on Gold Chain, Arizona | GOLD79 COMPLETES THIRD ANNIVERSARY OPTION PAYMENT FOR GOLD CHAIN PROJECT, ARIZONA | |
July 29, 2021 - Gold79 Mines Ltd. (TSXV:AUU) (OTCQB:AUSVF) (“Gold79” or the “Company”) announces that it has completed the third anniversary payments due under the Gold Chain project option agreement with the payment of US$30,000 in cash and the issuance of 744,711 common shares at a deemed value of US$48,000 (CDN$60,322).
Mr. Derek Macpherson, President, CEO and Director stated, “We continue to be excited about the Gold Chain project, as announced on June 22, 2021, our recent work has identified about a 12km trend of Oatman style mineralization, and we have materially expanded our land package beyond the original 107 claims subject of the option agreement to a total of 361 claims covering approximately 2,800 hectares and five patented claims covering 38 hectares at the historical Banner mine area.” Mr. Macpherson continued, “We are now preparing to embark on the Company’s first drilling campaign at our Gold Chain project to follow up on historical drilling and complete a maiden drill program at the historic Banner mine.”
The common shares issued have a statutory hold period until November 30, 2021.
About Gold79 Mines Ltd.
Gold79 Mines Ltd. is a TSX Venture and OTCQB Venture Market listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds two projects with minority interest being a 37.1% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited and a 20% carried interest in the Taviche Project in Oaxaca, Mexico now under option to Fortuna Silver Mines Inc.
For further information regarding this press release contact:
Derek Macpherson, President, Chief Executive Officer and Director by email at dm@gold79mines.com or by phone at 416-294-6713.
Gold79’s website is located at www.gold79mines.com.