Developing Bellechasse-Timmins Gold Deposit
New Discovery Resulting in a 20KM Mineralized Gold Belt
Message: More company at Bellechasse
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Looks like this area is starting to get some more interest. Golden Hope Timmins property is specifically referenced in the article. Godspeed Nomad Ventures.
News Release - May 1st, 2012
Subscribe for Email UpdatesNomad Ventures Aquires Bellechasse Gold Properties
Nomad Ventures Inc. (“Nomad”) is pleased to announce that it has entered into an agreement (the “Agreement”) with a group of arms length individuals (the “Vendors”) to acquire a 100% interest in three mineral properties called the Savard property, the Fan property and the Marcotte property (the “Properties”). The Properties are located in the Appalachian Mountains within the Bellechasse gold belt of Southern Québec.
Under the terms of the Agreement, Nomad will be able to acquire a 100% interest in the Properties by making aggregate cash payments of $47,500 and issuing an aggregate of 450,000 common shares as follows:
(a) paying $25,000 within 7 days of receiving regulatory approval from the TSX Venture Exchange;
(b) issuing 225,000 common shares within seven days of receiving regulatory approval from the TSX Venture Exchange;
(c) paying $22,500 and issuing 225,000 common shares within seven days after the first anniversary of the Agreement;
In addition, the Vendors will retain a 2% net smelter return royalty on the Properties. Nomad may purchase 1% of the net smelter return royalty at any time by paying the Vendors $1,000,000.
The Agreement is subject to Nomad obtaining approval from the TSX Venture Exchange.
About the Properties:
The Savard, Fan and Marcotte properties are located in the Bellechasse gold belt of Southern Québec. They are comprised of two separate blocks totaling 108 cells and 40 claims for a total of 6,657 Ha.
The Properties are contiguous to the North and South of Golden Hope Mine’s Bellechasse-Timmins gold property and the Timmins gold deposit is located just 2 km North of the Properties. On April 18, 2012, Golden Hope Mines announced that drilling intersected 152 Metres of 1.51 g/t Gold (Au) at Bellechasse-Timmins and the company expects to announce their first resource estimate in late May or early June, 2012.
The Bellechasse area has a well-developed infrastructure including a network of well maintained all-weather roads and three-phase hydroelectric transmission lines. The largest town in the area is Lac Etchemin with a population of approximately 4,000 and is located 28km Southwest of the Properties.
Under the terms of the Agreement, Nomad will be able to acquire a 100% interest in the Properties by making aggregate cash payments of $47,500 and issuing an aggregate of 450,000 common shares as follows:
(a) paying $25,000 within 7 days of receiving regulatory approval from the TSX Venture Exchange;
(b) issuing 225,000 common shares within seven days of receiving regulatory approval from the TSX Venture Exchange;
(c) paying $22,500 and issuing 225,000 common shares within seven days after the first anniversary of the Agreement;
In addition, the Vendors will retain a 2% net smelter return royalty on the Properties. Nomad may purchase 1% of the net smelter return royalty at any time by paying the Vendors $1,000,000.
The Agreement is subject to Nomad obtaining approval from the TSX Venture Exchange.
About the Properties:
The Savard, Fan and Marcotte properties are located in the Bellechasse gold belt of Southern Québec. They are comprised of two separate blocks totaling 108 cells and 40 claims for a total of 6,657 Ha.
The Properties are contiguous to the North and South of Golden Hope Mine’s Bellechasse-Timmins gold property and the Timmins gold deposit is located just 2 km North of the Properties. On April 18, 2012, Golden Hope Mines announced that drilling intersected 152 Metres of 1.51 g/t Gold (Au) at Bellechasse-Timmins and the company expects to announce their first resource estimate in late May or early June, 2012.
The Bellechasse area has a well-developed infrastructure including a network of well maintained all-weather roads and three-phase hydroelectric transmission lines. The largest town in the area is Lac Etchemin with a population of approximately 4,000 and is located 28km Southwest of the Properties.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Nomad cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Nomad’s control.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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