Vancouver, British Columbia--(Newsfile Corp. - August 22, 2024) - Geologica Resource Corp. (CSE: GRCM) (FSE: 862) ("Geologica" or the "Company") is pleased to announce it has received a letter of exempting the permit requirement to conduct an Induced Polarization survey at the Topley Copper Project ("Topley") from the British Columbia Ministry of Energy, Mines and Low Carbon Innovation.
TOPLEY CLAIMS
- Geochemistry has identified high priority exploration target areas and a kilometer-scale VMS target area
- The region is known for its large porphyry, copper/gold, and copper/molybdenum deposits including past producing copper mines, Granisle and Bell
- Located on trend with the recent high grade NAK copper discovery (1.09% over 300 m.)
- The property is located in central BC, is Road Accessible, cost effective to explore and Accessible year round
- BC Hydro power lines transect the property and several water sources are available on the property
- The property is located 40 Km from rail lines to tide water
- Porphyries contain the largest reserves of Cu and close to 50% of Au reserves in BC
- Topley Property consists of 10 mineral claims totaling 4,216 with known prospects and showings
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Doug Unwin CEO and President of the Company stated, "We are very excited to have received this letter from Ministry of Energy, Mines and Low Carbon Innovation to allow Geologica to conduct an IP survey at Topley. We acknowledge the assistance and the consent of the Lake Babine Nation for the issuance of the waiver. Analysis of our geochemical data and historic data as well as data from previous trenching indicates that mineralization may extend to the west where we have acquired additional property."
The letter states, "Due to the nature of the proposed work, you are exempt under subsection 10 (2) of the Mines Act from the requirement to hold a Mines Act for the IP survey program described in your Notice of Work application, and as shown on the maps in your Notice of Work, for the exemption period from August 16, 2024, to August 16, 2025."
ABOUT GEOLOGICA RESOURCE CORP.
Further information on Geologica Resource Corp. can be found on the Company's website
https://geologicaresource.com/ and on SEDAR at https://www.sedarplus.ca
The accuracy of the technical content of this overview has been reviewed by David Mark P.Geo. David is a Qualified Person as defined under NI 43-101, and a member of the Company's board of directors.
Neither the Canadian Securities Exchange ("CSE") nor its Market Regulator (as such term is defined in the CSE policies) has reviewed or accept responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "ensuring", "believe", "anticipate", "will", "would" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, this news release contains forward-looking information pertaining to the Company's plans and objectives with respect to the Topley Project. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, failure to obtain all necessary regulatory approvals, risks and uncertainties inherent in the exploration and development of mineral properties. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that general business and economic conditions will not change in a materially adverse manner. 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
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