Tickers: PINX:LADFF, XTSX:LAD
Tags: Mining
Vancouver, BC / TheNewswire / February 13, 2018. New Carolin Gold Corp ("New Carolin" or the "Company") (TSX.V "LAD" and OTCBB "LADFF"), has completed $1.5M in equity financing and is now preparing a multi-stage underground exploration program at its wholly owned Ladner Gold Project near Hope BC.
The Company made significant capital investments in 2016 and 2017 to upgrade the underground and to improve access at the Carolin Mine Zone, in preparation for its upcoming exploration / drilling program planned in 2018.
Upgrades in the fall of 2016 included scaling and timbering throughout the 800 (track level) and 900 level tunnels, rehab of escape routes, installing of insulated doors at the 800 and 900 portals, establishing a water reservoir and installation of a supply system for water delivery to planned drill stations.
2017 work included roof bolting and screening of drill stations at the 800 and 900 levels, the installation of a command center / trailer, the installation of a hardline communications system to the back of mine, the purchase and installation of a 600 KVA generator with fuel tank, the purchase and installation of 1 kilometer of power cable along with an associated transformer and installation of a substation at the back of the mine.
In early January 2018 the company leased a D8 Cat and a large excavator to clear snow from the highway to the Carolin Mine site. This equipment will remain on site for the season for regular snow removal and road maintenance. Minor power supply related components required to be fully operational are currently being procured for start up.
Planned exploration programs for 2018 have been formulated utilizing nearly 700 historical drill hole assays, data from the 2016 surface drill program, detailed underground and surface surveys, detailed mapping, a structural surveying from underground and on surface, surface sampling, underground channel sampling, and data obtained from 3D geological modeling.
The exploration targets planned in the multistage exploration program will comprise of step-out holes at existing mineralized gold zones, deigned to confirm and augment historical resource estimates, as well as, drilling previously untested targets from drill stations in very close proximity to known mineralized zones. New Carolin believes that the new data received from this exploration program, together with all of the historical data, will allow the company to advance the project and build a compelling geological model at the Carolin Mine Zone.
New Carolin looks forward to providing updates to shareholders as developments unfold.
A bout New Carolin Gold Corp.
New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the "Ladner Gold Project" (Project). The Project is located near Hope, BC in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine and Pipestem Mine, and numerous gold prospects.
For additional information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Robert L. Thast"
President & Chief Executive Officer
Phone: 604.542.9458
Cell: 604.220.5031
E-mail: ceo@newcarolingold.com
Web site: www.newcarolingold.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the 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 the accuracy of this press release.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
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