(TheNewswire)
August 10, 2023 – TheNewswire- Cosigo Resources Ltd. (NEX:CSG. H ) today announced the appointmentof RichardHughes as Technical Advisor to theCompany, has issued some stock options to key personnel, and discloseslatest prospecting channel sample results.
Mr. Hughes is best known for his prominent role in thediscovery of one of the world’s richest gold mines, the Golden Giant(Hemlo Mine) in Ontario, Canada. The original ore bodies contained21 million oz of gold (84 million tons at 7.7 gpt Au.)
Robert Collawn , CEO of Cosigo stated: "We are delighted to have a highlyrespected explorer like Mr. Hughes join us as a Technical Advisor. Hisgeological and vast financial experience in the mining explorationindustry, and his impressive track record of discovery will be greatassets to us as we advance our projects in Nevada, Brazil, Canada andthe Taraira Gold Belt in Colombia."
In connection with today's appointment, pursuant to theterms and conditions of the Company's stock option plan, Cosigo hasgranted Mr. Hughes stock options for the purchase of up to 200,000common shares in the capital of the Company at a price of $0.05 for afive year period. The option grant is subject to TSX Ventureapproval.
Cosigo would also like to announce that 6,200,000incentive options were granted to certain directors, officers,employees and consultants of the Company, including Mr. Richard Hughesabove, in accordance with its 10% rolling Stock Option Plan. Theoptions vest immediately, expire five years from the grant date of[August 10, 2023] and are exercisable into one common share of theCompany at a price of $0.05 per share. The option grant is subjectto TSX Venture approval.
Finally Cosigo wishes to share its latest results from14 channel samples taken along a 1019 meter strike on the Tarairaproject. These are considered at best prospection quality forinformation purposes only. The channels are the first in what willbecome the profiling of one of the known conglomerate layers in thecompany’s Taraira strata which will be prioritized over the next fewquarters. Although these channel samples were taken with great care bysenior geological professor Ricardo Tobon and the prospector team inthe field, it is possible known historical gold producing strata’sfrom higher up on the slope still within the title could haveweathered and contaminated the visible outcrop of this sampling. Thecompany has tested these field samples at the new Chrysos assay systemin MSA Labs in Vancouver. The Chrysos non-destructive and lessexpensive system is industry tested and various other juniors havealready had their results approved by the regulatory bodies inAustralia and Canada.
Sample | PWE-100 | CPA-Mass | CPA-Au1 | |
Type | Rec. Wt. | Ana. Wt. | Au | |
Kg | g | ppm | ||
Sample ID | ||||
1246662 | Rock | 2.92 | 463.1 | 1.106 |
1246664 | Rock | 2.90 | 450.0 | 0.040 |
1246666 | Rock | 2.68 | 406.3 | 0.348 |
1246669 | Rock | 2.92 | 449.9 | 0.506 |
1246670 | Rock | 2.86 | 455.7 | 0.751 |
1246671 | Rock | 2.94 | 423.6 | 0.537 |
1246672 | Rock | 2.94 | 433.8 | 0.104 |
1246673 | Rock | 2.78 | 432.8 | <0.015 |
1246674 | Rock | 2.86 | 427.9 | 0.021 |
1246675 | Rock | 2.94 | 401.8 | <0.015 |
1246676 | Rock | 2.92 | 501.6 | 0.021 |
1246677 | Rock | 2.86 | 452.0 | 0.025 |
1246678 | Rock | 2.94 | 481.7 | 0.019 |
1246710 | Rock | 2.80 | 508.1 | 0.479 |
1246757 | Rock | 2.88 | 439.3 | 0.096 |
1246758 | Rock | 2.80 | 439.6 | 0.033 |
1246759 | Rock | 2.88 | 446.6 | 0.019 |
1246760 | Rock | 2.86 | 448.2 | 0.422 |
1246761 | Rock | 2.74 | 500.1 | <0.015 |
1246768 | Rock | 2.84 | 465.6 | 1.558 |
1246769 | Rock | 2.84 | 464.6 | 0.066 |
MER12 | Rock | 0.36 | 323.1 | 0.018 |
We intend to re-assay a selection of these samples atour regularly used standard laboratory in Vancouver to get a betterpicture of how each lab results compare with respect to the nuggeteffect known to be a factor in the Taraira strata. These secondcomparison results will be released as soon as the company hasreceived them.
Mr. Erik Ostensoe P.Geo., a chief geologist of theCompany and a Qualified Person as defined by National Instrument43-101, has reviewed and approved the scientific and technicaldisclosure in this news release.
About CosigoResources
Cosigo Resources Ltd. is a junior exploration companytrading on the TSX Venture’s NEX Exchange (symbol CSG.h). TheCompany is focused on exploring and developing the gold potential ofits properties in the Taraira District in south-east Colombia near theborder of Brazil. The Company also holds a 100% interest in the WillowCreek property, located in the northern sierras of Nevada nearWinnemucca, a 100% interest in the Damian property in the Cordilleraregion of Colombia, and owns 13.26% of DHK Diamonds Inc. a companyexploring for diamonds in the DO27 region of the NorthWest Territoriesof Canada.
To find out more about Cosigo Resources visit ourwebsite at www.cosigo.com .
FOR MORE INFORMATIONCONTACT:
Cosigo Resources Ltd.
Andy Rendle
President & COO
Andy@Cosigo.com
Cautionary and Forward-LookingStatements
This news release containsforward ? looking statements and forward ? looking information within the meaning of applicable securitieslaws. These statements relate to future events or future performance.All statements other than statements of historical fact may beforward ? looking statements or information.Forward ? looking statements and information areoften, but not always, identified by the use of words such as“appear”, “seek”, “anticipate”, “plan”,“continue”, “estimate”, “approximate”, “expect”,“may”, “will”, “project”, “predict”, “potential”,“targeting”, “intend”, “could”, “might”, “should”,“believe”, “would” and similar expressions.
Forward-looking statements andinformation are provided for the purpose of providing informationabout the current expectations and plans of management of the Companyrelating to the future. Readers are cautioned that reliance on suchstatements and information may not be appropriate for other purposes,such as making investment decisions. Since forward ? looking statements and information address future events andconditions, by their very nature they involve inherent risks anduncertainties. Actual results could differ materially from thosecurrently anticipated due to a number of factors and risks. Theseinclude, but are not limited to, the expected timing and terms of theprivate placement, use of proceeds, anticipated work program, requiredapprovals in connection with the work program and the ability toobtain such approvals. Accordingly, readers should not place unduereliance on the forward ? looking statements,timelines and information contained in this news release. Readers arecautioned that the foregoing list of factors is not exhaustive.
The forward ? looking statements and information contained in this news releaseare made as of the date of this news release and no undertaking isgiven to update publicly or revise any forward ? looking statements or information, whether as a result of newinformation, future events or otherwise, unless so required byapplicable securities laws or the TSXV. The forward-looking statementsor information contained in this news release are expressly qualifiedby this cautionary statement.
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