(TheNewswire)
Vancouver, British Columbia – TheNewswire - March 4, 2021 - Lovitt Resources Inc.(“Lovitt” or the “Company”) (TSXV:LRC )
Dear Lovitt Shareholder,
The Company owns the Lovitt Mining Company(“ LMC ”) incorporated WA State in 1949. LMC owns 250 freeholdacres in Wenatchee, WA which encapsulate the Lovitt Gold Mine, activefrom 1949 to 1985, when it produced over 400,000 oz of gold and420,000 oz of silver with a small operation. The Asamera-Cannon Mine,a larger operation on the adjoining property to the north produced amillion ounces of gold from production years 1982 to 1988.
The Company has hired leading 3D company LongviewGeologic Inc., located in Kamloops, B.C. (“ LGI ”) who havecompleted a historical data compilation and 3D modeling of theextensive underground sampling and drill hole data accumulated by theLovitt Mining Company over the past 60 years. The new databasecatalogue includes 390 digital maps, a digital elevation topographicmodel, modelling of tunnels and stopes, digitizing of muck sampleassays (over 3800 Au values and 560 Ag values from 19 levels in themine) and digitizing of geological data including hundreds ofstructural readings. This data was collected from exploration workconducted directly by the Company and leading companies like Teck,Newmont, Cyprus Anvil, and Asamera-Breakwater (who developed theadjoining Cannon Mine rated one of the largest underground mines inthe US in its time). LGI is presently working on digitizing theextensive drill hole database, the final step in the exercise.
The 3D project is of paramount importance to thecompany as it will be used as the basis for further exploration of theLovitt Mine including generating drill targets and identifying areasthat might present
the possibility of accessible near surfacemineralization. The digitization is accurate to within one metre.
One area identified of particular interest iscode-named the high-grade fan area (H-G Fan) with its multiplehigh-grade gold intercepts only 50 metres below ground level.Investors should note that this data is historic in nature and has notbeen verified by Qualified Company personnel. It is not recommended tobe a sole information source for investment purposes. A map, datatable and 3D image is available for this area of interest at lovittresources.com . The company expects to raise financing in the near futureto fund drill exploration of the H-G Fan area and to test for possiblenear surface ore development using an excavator as gold in the mine isknown to occur along fault systems which have surface expressions.
On behalf of Lovitt Resources Inc.:
“C. Lorne Brown”,President
For further information, please contact:
C. Lorne Brown
Email: lovittresources@gmail.com
Telephone: (509) 668-8170 or (604) 725-9952
www.lovittresources.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
SPECIAL NOTEREGARDING FORWARD LOOKING STATEMENTS
This news release includesstatements containing forward-looking information about the Company,its business and future plans (“forward-looking statements”). Forward-looking statements are frequently, but not always,identified by words such as "expects”, "anticipates”,"believes”, "intends”, "estimates”,"potential”, "possible”, and similar expressions, orstatements that events, conditions, or results "will”,"may”, "could”, or "should” occur or be achieved.Forward-looking statements in this news release relate to, among otherthings completion of the Private Placement. Actual future results maydiffer materially. There can be no assurance that such statements willprove to be accurate, and actual results and future events coulddiffer materially from those anticipated in such statements.Forward-looking statements reflect the beliefs, opinions andprojections on the date the statements are made and are based upon anumber of assumptions and estimates that, while considered reasonableby the respective parties, are inherently subject to significantbusiness, economic, competitive, political and social uncertaintiesand contingencies. Many factors, both known and unknown, could causeactual results, performance or achievements to be materially differentfrom the results, performance or achievements that are or may beexpressed or implied by such forward-looking statements and theparties have made assumptions and estimates based on or related tomany of these factors. Such factors include, without limitation, therisk that the Company is not able to find suitable investors for thePrivate Placement or does not receive the approval of the TSX VentureExchange. Readers should not place undue reliance on theforward-looking statements and information contained in this newsrelease concerning these times. Except as required by law, the Companydoes not assume any obligation to update the forward-lookingstatements of beliefs, opinions, projections, or other factors, shouldthey change, except as required by law.
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