ACCESS Newswire
15 Mar 2023, 12:50 GMT+10
VANCOUVER, BC / ACCESSWIRE / March 15, 2023 / Gama Explorations Inc. (CSE:GAMA)(OTCQB:GMMAF)(FSE:N79) ('Gama' or the 'Company') is pleased to announce the purchase of a further 78.8 km2 of mineral claims contiguous to the current project footprint of its Tyee Nickel Project in the Havre St. Pierre Anorthosite Complex ('HSP Complex') in south-eastern Quebec. The purchase of these additional claims brings Gama's aggregate land position to 625.9 km2.
Mick Carew, PhD, CEO of Gama, noted 'Gama continues to expand its land holdings at its Tyee Nickel Project, taking the Company's total land holdings to 625.9 km2, the largest land position held by a company in the HSP Anorthosite complex. We continue the planning phase for our first phase of exploration scheduled to begin in May with a SkyTEM airborne geophysical survey. The results of this survey will form the basis of delineating prospective targets for follow-up mapping, prospecting, and rock-chip sampling so that we may be in a better position to plan our maiden drill program on the project.'
Figure 1. Gama's mineral claims, including newly acquired claims, in the HSP Complex
All figures are in Canadian dollars unless otherwise denoted.
Through an asset purchase agreement (the 'Agreement') with 1290480 B.C. Ltd., a non arm's-length party, Gama has agreed to acquire an additional 147 mineral claims, covering a total of 78.8 km2, for a cash payment of $50,000. The acquisition of these additional claims brings the footprint of the Company's Tyee Nickel project to 625.9 km2.
Jacob Verbaas, VP Exploration of the Company, is an officer of 1290480 B.C. Ltd. and, as such, his participation in the transaction is considered to be a 'related party transaction' as defined under Multilateral Instrument 61-101 ('MI 61-101'). This transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the purchase price does not exceed 25% of the Company's market capitalization.
About Gama Explorations Inc.
Gama is a Canadian company listed on the Canadian Securities Exchange (CSE:GAMA), Frankfurt Stock Exchange (FSE:N79) and on the OTCMarkets (OTCQB:GMMAF). The Company is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties containing metals used in green technologies and the renewable energy sector. The Company recently announced the addition of the Muskox Pegmatite Lithium Project situated within the Yellowknife Pegmatite Province in the Northwest Territories, to compliment its existing portfolio consisting of the Big Onion Copper-Molybdenum Project located a short 20-minute drive from the town of Smithers in northern British Columbia (option to earn 100%). Further, Gama owns 100% of the Tyee Nickel-Copper Massive Sulphide Project located in North-Eastern Quebec. The Company continuously evaluates opportunities to acquire interest in additional exploration stage mineral properties in stable jurisdictions.
ON BEHALF OF THE BOARD,
Mick Carew, PhD|CEO and Director
Email: [email protected]
For further information please contact:
Focus Communications
Tel: +1 647 689 6041
Email: [email protected]
Forward-Looking Statements
This press release contains certain forward-looking statements as well as historical information. Readers should not rely on information in this summary for any purpose other than for gaining general knowledge of the Company. The words 'expected', 'will' and similar expressions are intended to be among the statements that identify forward-looking statements. Although the Company believes that its expectations as reflected in any forward-looking statements, are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions or other factors should change.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE: Gama Explorations Inc.
Get a daily dose of Canada Standard news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Canada Standard.
More InformationDUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
(Photo credit: David Butler II-Imagn Images) The Boston Red Sox will be looking to extend their winning streak to 10 games Sunday...
(Photo credit: Eric Canha-Imagn Images) In his 51st career start, Garrett Crochet accomplished two feats in one dominant outing:...
(Photo credit: Daniel Kucin Jr.-Imagn Images) Two teams that have long climbs if they're going to reach the postseason needed a sweep...
New Delhi [India], July 13 (ANI): The business valuation of the Indian Premier League (IPL) has surged an unprecedented USD 18.5 billion,...
(Photo credit: Dennis Lee-Imagn Images) All-Star Brent Rooker hit a tiebreaking two-run homer and drove in three runs overall to...
(Photo credit: Steve Roberts-Imagn Images) Heavyweight Derrick Lewis needed only 35 seconds to end the undefeated run of Tallison...