(TheNewswire)
Vancouver – TheNewswire- July 30, 2021 – LovittResources Inc. (the “Company”) (TSXV:LRC) reports that itintends to resume exploration for gold at its wholly owned Lovitt GoldMine near Wenatchee, WA. The Lovitt Gold Mine produced 420,000 oz ofgold and 600,000 oz of silver at a grade of 0.40 oz/ton (13.7 gm/t)and 600,000 oz of silver with a small operation employing 15-25 peoplebetween 1950 and 1966. The adjoining Cannon Mine, 3/4 mile to itsnorth, produced 1,200,000 oz of gold at a grade of 0.30 oz/ton (10.3gm/t) and 1,900,000 oz of silver between 1985 and 1995 with 180employees.
The Lovitt Gold Mine is an epithermal type of deposit with low grade,widespread gold mineralization coupled with extensive silicificationand quartz veins hosting higher grade mineralization in meta-sedimentssimilar to the Carlin-type deposits of Nevada. Historic informationindicates that some ore was extracted using open pit methods on abench readily accessible today. One historic map notation states that18,038 tons were extracted using a bulldozer in 1954 at a grade of0.58 oz/ton. Bulldozers are very limited in depth capability whereasmodern excavators were designed to have excellent depth capabilities.The company intends to test beneath the floor of the open pit areawith an excavator to levels below the historic open pit workings. Anexcavator is currently on site and depth testing for gold ore willcommence before the end of this month. Investors should be advisedthat historic information should not be used alone without furtherdata and professional advice to make investment decisions. Data willbe released as soon as initial gold assays are available if thematerial recovered warrants assaying for gold.
This news release was reviewed and approved by our Director JamesProudfoot, P.Eng., a qualified person under NI 43-101.
On behalf of the Board
“C. Lorne Brown, President”
For more detailed information, please email: lovittresources@gmail.com or call the Company at(509) 668-8170. The Company website is: www.lovittresources.com . Detailed information isavailable to analysts or accredited investors via Zoom onlineconferencing or email. Data is available in numerous reports andhundreds of historic maps.
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking statements,which relate to future events or future performance and reflectmanagement's current expectations and assumptions. Suchforward-looking statements reflect management's current beliefs andare based on assumptions made by and information currently availableto the Company. Investors are cautioned that these forward lookingstatements are neither promises nor guarantees and are subject torisks and uncertainties that may cause future results to differmaterially from those expected. These forward -looking statements aremade as of the date hereof and, except as required under applicablesecurities legislation, the Company does not assume any obligation toupdate or revise them to reflect new events or circumstances. All ofthe forward-looking statements made in this press release arequalified by these cautionary statements and by those made in ourfilings with SEDAR in Canada (available at WWW.SEDAR.COM ).
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