About:
Clarity Gold Corp. is a Canadian mining exploration company focused on the acquisition, exploration and development of gold projects in Canada. The Company has an option agreement to purchase a 100% interest in the highly prospective Empirical Project located in the Lillooet Mining Division, approximately 12 km south of Lillooet, British Columbia and recently expanded its mineral property portfolio with the acquisitions of the Tyber and Gretna Green projects, both located on Vancouver Island, British Columbia.
“We focus on the acquisition and exploration of overlooked and underfinanced gold properties”
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Investor Recap:
The Projects
The Empirical Project
The 10,518 Ha Empirical Gold-Copper-Molybdenum project is located in southeastern British Columbia, 12 km south of the town of Lillooet.
Approximately 1,600m of historic diamond drilling was completed in the 80’s to a maximum depth of 230m with 6 of the 15 holes returning anomalous gold values including 21m of 3.67g/t Au.
The Cordilleran Continental Arc contains 26 significant porphyry deposits, including Imperial Metals historic Huckleberry Mine and Norandas historic Babine Porphyry camp.
Fish Lake and Poison Mountain are the 1st and 3rd largest deposits, whilst Taseko is the 2nd highest grade deposit in this tract.
The Cordilleran Continental Arc is estimated to contain the most undiscovered porphyry deposits in Canada. (Reference – USGS 2010 publication: Porphyry Copper Assessment of British Columbia and Yukon Territory, Canada)
The Tyber Project
The area is underlain by volcanic rocks of the Triassic Karmutsen Formation composed of pillow basalt and pillow-breccia, basaltic lava flows and minor tuff. A sequence of limestone beds <30 ft thick has been found in several places between lavas in the upper section of the Karmutsen Formation.
Contains a number of separate but apparently related quartz vein systems hosted in shear and fracture zones.
Veins vary from anastomosing, lensoidal to en echelon; vein size varies from hairline to 1.5 m width and are traceable in historic adits and on the surface for less than a metre to tens of metres.
- The area is underlain by volcanic rocks of the Triassic Karmutsen Formation composed of pillow basalt and pillow-breccia, basaltic lava flows and minor tuff. A sequence of limestone beds <30 ft thick has been found in several places between lavas in the upper section of the Karmutsen Formation
- Contains a number of separate but apparently related quartz vein systems hosted in shear and fracture zones
- Veins vary from anastomosing, lensoidal to en echelon; vein size varies from hairline to 1.5 m width and are traceable in historic adits and on the surface for less than a metre to tens of metres
- Two historic adits (14m and 47m in length) are located on the Tyber Project and are believed to have targeted mineralised quartz veins within local shear zones
- Selected Historic Results: Up to 2.328 oz/t Au (from waste dump), 17% Cu, 305.5 oz/t Ag
Historic Work (1916-1986)
Prospecting, Soil Sampling, Magnetometer Survey
1916 BC Mines Annual Report: Grab sample of dump: trace Au, 2.2 oz/t Ag, 9.7% Cu
1965 Rock Samples: 29 Samples: returned between 0.14 to 17% Cu, nil to 0.05 oz/t Au, nil to 305.5 oz/t Ag
1981 Soil Samples: 199 samples: returned up to 650 ppm Cu, 27 ppm Ag, 405 ppm Pb, 310 ppm Zn
1981 Rock Samples: returned values up to 12.91 oz/t Ag, 2.328 oz/t Au, 11.6% Cu (from waste dump)
1986 Rock Samples: returned values up to 295 ppm Ag, 430 ppb Au
The Gretna Green Project
The area is underlain by mafic to intermediate volcanic rocks of the Upper Triassic Vancouver Group, Karmutsen Formation. These are overlain by limestone of the Quatsino Formation, also of the Vancouver Group. A stock of dioritic rock of the Early to Middle Jurassic Island Intrusions occurs along the northeast side of Henderson Lake.
Locally, a skarn zone with chalcopyrite ore occurs in limestone cliffs near a contact with dioritic rock. Masses of epidote and garnet occur near, but usually not with, pods and bunches of chalcopyrite.
- The area is underlain by mafic to intermediate volcanic rocks of the Upper Triassic Vancouver Group, Karmutsen Formation. These are overlain by limestone of the Quatsino Formation, also of the Vancouver Group. A stock of dioritic rock of the Early to Middle Jurassic Island Intrusions occurs along the northeast side of Henderson Lake.
- Locally, a skarn zone with chalcopyrite ore occurs in limestone cliffs near a contact with dioritic rock. Masses of epidote and garnet occur near, but usually not with, pods and bunches of chalcopyrite.
- One historic selected sample assayed 48.00 grams per tonne gold, 51.43 grams per tonne silver and 17.8 per cent copper (Minister of Mines Annual Report 1921)
- Selected Historic Results: Up to 1.54 oz/t Au, 17.8% Cu, 1.65 oz/t A
In the Media
Recent Developments
Nov. 30, 2020 - Clarity Gold to Acquire the Destiny Project Located in the Abitibi Region
Clarity Gold Corp. (“Clarity” or the “Company”) (CSE: CLAR, OTC: CLGCF, FSE: 27G) is pleased to announce that it has entered into an option agreement (the “Option Agreement”) dated November 27, 2020 pursuant to which the Company has been granted the sole and exclusive option (the “Option”) by Big Ridge Gold Corp. (“Big Ridge”) (TSX-V: BRAU), an arm’s length company whose common shares are listed on the TSX Venture Exchange, to acquire up to 100% of Big Ridge’s right, title and interest in and to certain mineral claims located in the Province of Quebec known as the “Destiny Project” (the “Transaction”).
Highlights of the Destiny Project1
- Located in the historical, mineral rich Abitibi Greenstone Belt.
- Gold mineralization occurs in high-grade quartz veins within shear zones starting at 15 m below surface (drill results include 167g/t Au over 1 m).
- 2011 NI 43-101 indicated resource of 360,000 oz and an inferred resource of 247,000 oz.
- Mineralization is open to depth and along strike.
- The DAC deposit is open along strike with only coarse drilling denoting high grade intercepts outside of 2011 resource area showing expansion potential along strike from the DAC Deposit over approximately 2.5 km to the Darla Zone.
- Excellent infrastructure: ~75 km NNE of Val d’Or with road access.
- Considerable work done to date including over 50,000 m of diamond drilling.
“This is a substantial step forward for Clarity. The acquisition of the Destiny Project will mark a transformational first step for the Company into the prolific Abitibi Greenstone belt,” stated Clarity’s CEO, James Rogers. “Our team at Clarity has reviewed countless projects and we are excited to focus our efforts on a project that has high grade, underground potential with underpinning Indicated and Inferred ounces in the ground. We look forward to working with Big Ridge to complete the Transaction and get to work on advancing this exciting project.”
___________
1 Information extracted from the Technical Report, dated March 1, 2011, authored by, Todd McCracken, P. Geo., and filed by Big Ridge on SEDAR on March 7, 2011.
The Destiny Project
The Destiny Project is located approximately 75 km northeast of the city of Val d’Or in the prolific Abitibi Greenstone Belt where more than 180 million ounces of gold have been produced historically along major structural breaks within the assemblage of Archean-age volcanic, sedimentary and intrusive rocks. The Destiny Project lies along the approximately 400 km long Chicobi Deformation Zone, a major structural break which is largely underexplored in the Abitibi Greenstone Belt. The 5,013 ha project includes the DAC deposit, one of several gold zones along an approximately 6 km long segment of the Despinassy Shear Zone within the Chicobi Deformation Zone.
Approximately 2.5 km east along strike of the DAC deposit is the Darla zone. In between the Darla and DAC is the coarsely drilled GAP zone where 2012 drilling intercepted anomalous gold in all 12 holes which were spaced 100 m apart.
Exploration of the Destiny Project dates back to the 1930s with the first serious diamond drilling campaign commencing in 1998 by Cameco. Continued exploration and drilling campaigns supported a maiden NI 43-101 resource estimation being authored in 2007 and the most recent NI 43-101 resource estimation in 2011 in the Technical Report, dated March 1, 2011, authored by, Todd McCracken, P. Geo., and filed by Big Ridge on SEDAR on March 7, 2011 (the “2011 Technical Report”). Since the publishing of the 2011 Technical Report, only 15 drill holes totaling approximately 3,473 m were completed as well as geochemical surveys and a geophysical compilation targeting VMS mineralization.
Previous work on the property can be summarized as follows:
- 172 Diamond drill holes comprising approximately 50,400 m
- Reconnaissance till sampling from 11 Sonic drill holes
- 2,430 MMI geochemical samples
- 982 line km of airborne VTEM surveys
- 171 line km of ground magnetics surveys
- 128 line km of IP
Salient results from previous drill programs on the Destiny Project:
| Zone | Hole ID | From (m) | To (m) | Interval (m) | Au g/t |
|
DAC |
DES9917 | 117.2 | 140.8 | 23.6 | 6.15 |
| including | 118.8 | 121.9 | 3.1 | 23.95 | |
| and | 134.8 | 138.5 | 3.7 | 12.46 | |
| DES0032 | 159.9 | 169.2 | 9.3 | 3.98 | |
| including | 161.2 | 165.9 | 4.7 | 5.37 | |
| and | 163.3 | 165.9 | 2.6 | 7.78 | |
| DES05-64 | 161.8 | 170.5 | 8.7 | 5.42 | |
| including | 161.8 | 163.2 | 1.4 | 22.14 | |
| DES05-66 | 130.3 | 133.1 | 2.8 | 5.18 | |
| and | 138.3 | 139.3 | 1.0 | 3.37 | |
| and | 142.2 | 143.6 | 1.4 | 8.83 | |
| DES05-67 | 163.7 | 170.9 | 7.2 | 8.81 | |
| including | 166.0 | 168.7 | 2.7 | 19.49 | |
| DES05-79 | 130.6 | 133.1 | 2.5 | 10.70 | |
| and | 142.0 | 145.0 | 3.0 | 5.04 | |
| DES05-81 | 323.7 | 325.8 | 2.1 | 3.41 | |
| and | 333.7 | 339.0 | 5.3 | 4.01 | |
| including | 333.7 | 338.5 | 4.8 | 4.32 | |
| DES06-85 | 214.0 | 216.5 | 2.5 | 4.31 | |
| and | 221.7 | 222.7 | 1.0 | 167.00 | |
| DES06-96 | 254.4 | 261.2 | 6.8 | 2.46 | |
| and | 272.7 | 275.7 | 3.0 | 3.04 | |
| DES10-137 | 372.9 | 374.0 | 1.1 | 25.65 | |
|
Darla |
DES06-91 | 115.1 | 117.2 | 1.2 | 19.67 |
| DES08-104 | 104.5 | 107.0 | 2.5 | 6.73 | |
| including | 104.5 | 105.2 | 0.7 | 19.73 | |
|
Gap |
DES12-147 | 85.5 | 91.5 | 6.0 | 16.10 |
| including | 87.5 | 88.5 | 1.0 | 90.30 | |
| and | 146.0 | 148.0 | 2.0 | 2.55 | |
|
West |
DES05-75 | 79.8 | 80.5 | 0.7 | 3.36 |
| and | 82.7 | 84.2 | 1.5 | 1.50 | |
| and | 90.3 | 91.8 | 1.5 | 1.23 | |
|
South |
DES0051 | 308.6 | 309.9 | 1.3 | 2.22 |
| DES0056 | 49.0 | 49.2 | 0.2 | 3.03 | |
| and | 144.6 | 145.3 | 0.7 | 1.69 | |
| and | 319.0 | 319.2 | 0.2 | 2.23 | |
|
Zone 21 |
DES9921 | 93.8 | 99.8 | 6.0 | 2.49 |
| including | 93.8 | 94.8 | 1.0 | 7.03 | |
| Zone 20 | DES9920 | 218.4 | 220.4 | 2.0 | 4.60 |
The DAC Deposit
The 2011 Technical Report entitled “NI 43-101 Technical Report and Resource Estimate of the DAC Deposit, Destiny Property, Quebec” included the following estimates:
| Class | Tonnes | Au (gpt) | Au (ounces) |
| Indicated | 10,800,000 | 1.05 | 360,000 |
| Inferred | 8,300,000 | 0.92 | 247,000 |
Notes:
- The 2011 Technical Report was prepared for Alto Ventures Ltd. (now Big Ridge) and Pacific Northwest Capital Corp.
- Values rounded to reflect summary nature of the estimate
- Cut-off grade 0.5 g/t Au
- Au price of US$973/Oz
- US$ to CAD$ conversion of 1.02
- Au recovery 94%
- 4:1 Strip ratio
- Operating cost of $14.30/t at 10,000 tpd
Michel Robert, Advisor to Clarity stated: “The Abitibi is known for its high mineral potential, it’s a recognized region in Canada and internationally. I have previously worked in several active projects in the region, now I am excited to return to this highly prospective area with solid infrastructure and formidable local support for resource development. Destiny is in an advanced exploratory stage with an NI 43-101 indicated resource, and with multiple underexplored zones which makes for untapped exploration potential. At Clarity, we look forward to starting work and further defining this resource to become another success in the region.”
About the Option Agreement
Under the Option Agreement, Big Ridge has granted the Option to the Company which may be exercised by the Company on or prior to the third anniversary of the closing of the Transaction (the “Closing”) by making the following cash payments and issuances of common shares of the Company (each, a “Clarity Share”) on or before the dates indicated below:
| Payment Date | Cash Payment Amount | Share Issuance $ Amount | Interest Earned | ||
| Previously paid on execution of the letter of intent between the parties dated October 29, 2020 | $50,000 | – | – | ||
| Within 60 days of the execution of the Option Agreement | $450,000 | $1,000,000 | – | ||
| 12 months from the date of the Option Agreement | $750,000 | $1,000,000 | – | ||
| 24 months from the date of the Option Agreement | $750,000 | $1,500,000 | 49% earned | ||
| 36 months from the date of the Option Agreement | $1,000,000 | $2,000,000 | 100% earned | ||
| Total: | $3,000,000 | $5,500,000 | |||
The Company may accelerate the exercise of the Option by making the cash payments and issuances of Clarity Shares earlier than the timeframes contemplated above. The number of Clarity Shares to be issued to Big Ridge pursuant to the Option will be determined by dividing the dollar amount of Clarity Shares to be issued at any point in time by the five (5) day volume weighted average closing price of the Clarity Shares on the day before such issuance of such Clarity Shares, subject to the policies of the CSE. Concurrently with the exercise of the Option, Clarity has agreed to grant to Big Ridge a 1.0% net smelter return royalty (the “Royalty”) with respect to production of all precious metals from the Destiny Project, with the Royalty to be payable by Clarity following commencement of commercial production. The Company has the right to buy back the Royalty during the first three (3) years following the commencement of commercial production on payment by Clarity to Big Ridge of $1,000,000. Exercise of the Option is subject to receipt of all applicable regulatory approvals and consents. The Company will be the operator responsible for carrying out all operations with respect to the Destiny Project during the term of the Option Agreement. If Clarity acquires a 49% interest in the Property and decides not to proceed with the acquisition of the further 51% interest in the Property, then, for a period of 18 months following such time, Big Ridge will have the right to purchase back the 49% interest in the Property for cash consideration of $2,000,000. Clarity has agreed to pay a finders’ fee equal to 3% of the aggregate consideration payable to Big Ridge. Closing of the transactions contemplated under the Option Agreement is subject to the typical customary conditions, including receipt of all regulatory approvals.
Private Placement
The Company also announces a non-brokered private placement financing (the “Offering”) of units of the Company (each, a “Unit”) at a price of $0.96 per Unit. The Company intends to issue 3,125,000 Units for gross proceeds of $3,000,000 but may issue up to 10,000,000 Units of the Company for gross proceeds of up to $9,600,000. Each Unit will consist of one common share (each, a “Share”) and one-half of one transferable warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder thereof to purchase one additional Share at a price of $1.25 per Share for a period of one year from closing of the Offering.
Completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all necessary regulatory approvals. Insiders of the Company may participate in the Offering and finders’ fees may be paid in connection with the Offering. The net proceeds of the Offering will be used for the required payments and exploration expenditures in connection with the Option with respect to the Destiny Project, for exploration to advance the understanding of the Company’s other mineral exploration properties, marketing, costs of operations and general working capital.
All securities issued in connection with the Transaction and the Offering will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities legislation.
None of the securities issued in the Transaction and the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
Qualified Person
Mr. Rory Kutluoglu P. Geo. is the Qualified Person (“QP”) under NI 43-101 for the technical information in this news release and has reviewed the appropriate and available data for the Destiny Project and approves the technical contents of this news release.
For Full Release: https://www.globenewswire.com/news-release/2020/11/30/2136373/0/en/Clarity-Gold-to-Acquire-the-Destiny-Project-Located-in-the-Abitibi-Region.html
Aug. 22, 2020 - Clarity Gold Appoints Rory Kutluoglu to its Advisory Board
Clarity Gold Corp. (“Clarity” or the “Company“) (CSE: CLAR, FSE:27G) welcomes Mr. Rory Kutluoglu to its Advisory Board. Rory brings a wealth of exploration and project development experience to Clarity’s team ranging from grassroots through to feasibility level projects.
Mr. Kutluoglu is a professional geologist with over 15 years of international mineral exploration experience and executive management roles in North American and European companies. He has designed and executed multiple exploration programs and managed comprehensive environmental baseline and feasibility study programs. Mr. Kutluoglu was the Exploration Manager for Kaminak Gold Corp. leading their team to deliver the maiden and updated resources on the Coffee Gold Project prior to Kaminak’s acquisition by Gold Corp. in 2016. Mr. Kutluoglu is a Fellow of the Society of Economic Geologists.
“We are pleased to continue growing our Advisory Board with the addition of a recognized industry professional such as Mr. Kutluoglu,” said James Rogers, CEO of Clarity. “His technical experience and track record of management and project evaluation will be immensely valuable for Clarity.”
Grant of Options
The Company is also pleased to announce that it has granted incentive stock options (each, an “Option”) to acquire an aggregate of 100,000 common shares of the Company (each, a “Share”) to one consultant under its stock option plan. Each Option is exercisable for a period of three years expiring on August 21, 2023, at a price of $1.06 per Share. All the Options vested on the date of grant. The Options and the Shares issuable upon the exercise of the Options held by the optionee are subject to a hold period of four months from the date of grant of the Options.
The Company has entered into a marketing and investor relations agreement (the “Agreement”) dated August 21, 2020 with OGIB Corporate Bulletin Ltd. (the “Consultant”) pursuant to which the Consultant has agreed to provide certain corporate branding, marketing, online corporate communications and investor relations services to the Company for a term of six months, for total cash consideration of $350,000 plus GST, which was paid upon entry into the Agreement.
For Full Release: https://www.newswire.ca/news-releases/clarity-gold-appoints-rory-kutluoglu-to-its-advisory-board-861637094.html
July 31, 2020 - Clarity Gold Forms Advisory Board and Appoints First Member
Clarity Gold Corp. (“Clarity” or the “Company“) (CSE: CLAR, FSE: 27G) announces that its Board of Directors has formed an Advisory Board and has named accomplished mining sector professional, Ian Graham as its first member. Mr. Graham has over 20 years of experience in the development and exploration of mineral projects. His expertise in corporate transactions, project evaluations, and exploration will be an asset to Clarity.
“Ian’s extensive experience is invaluable for the current growth stage of the Company,” said James Rogers, CEO of Clarity. “We are pleased to welcome someone of his caliber to add to the strength of our team, we look forward to working closely to increase the quality of our exploration efforts and maximize the value for our shareholders.”
Mr. Graham’s experience is mostly at major mining companies, namely Rio Tinto and Anglo American, including as Chief Geologist with the Project Generation Group at Rio Tinto. He has been involved with evaluation and pre-development work on several projects in Canada and abroad, including Resolution Copper (Arizona, USA), Diavik Diamond Mine (Northwest Territories, Canada), Eagle Nickel (Michigan, USA), Lakeview Nickel (Minnesota, USA) and Bunder Diamonds (India). Mr. Graham’s experience in the junior sector are mostly in C-level positions and includes exploration startups that have made new discoveries or acquired overlooked discoveries in base and precious metals and industrial commodities (graphite, potash). He is a passionate believer in the positive social and economic benefits of responsible resource development and is a proponent for the deployment of venture capital for the expansion of the global resource base. Ian studied Geology at the University of Regina and earned a BSc (Hons) in Geology at the University of KwaZulu Natal in South Africa.
“I look forward to contributing to Clarity as the company works toward reaching its corporate milestones,” Mr. Graham stated. “Clarity has a solid team and I’m honoured to help the Company continue creating value for its shareholders.”
Issuance of Options
The Company is also pleased to announce that it has granted incentive stock options (each, an “Option“) to acquire an aggregate of 100,000 common shares of the Company (each, a “Share“) to certain consultants under its stock option plan. Each Option is exercisable for a period of three years expiring on July 31, 2023 at a price of $1.00 per Share. The Options are subject to vesting provisions, with one-third vesting on the date of grant, one-third on the first anniversary of the date of grant and the remaining one-third on the second anniversary thereof…
For Full Release: https://www.newswire.ca/news-releases/clarity-gold-forms-advisory-board-and-appoints-first-member-857817949.html
July 22, 2020 - Clarity Gold Mobilizes Field Crew to the Empirical Project
Clarity Gold Corp. (“Clarity” or the “Company“) (CSE: CLAR) (FSE:27G) is pleased to announce that it is mobilizing a field crew to the recently acquired expansion claims at its flagship Empirical Project, located 12 km south of Lillooet, British Columbia.
Field Crew Mobilization
The crew of three intends to conduct initial ground reconnaissance and sampling where applicable. The objective of the program will be to review the geology and mineralization of the recently acquired expansion claims which include 8 additional MINFILEs. The crew will attempt to locate and verify these historic mineral showings, and assess the suitability of the expansion claims’ exploration program design. The Company will also be conducting a grab sample program on targeted zones to locate additional areas of interest outside of the original Empirical Project claim group.
“Now that our crew has completed its initial reconnaissance on the Tyber and Gretna Green projects on Vancouver Island, we are very pleased to be mobilizing to evaluate the recently acquired mineral claims at our flagship Empirical Project,” said James Rogers, CEO of Clarity. “The Empirical Project now has multiple historic showings and we are looking forward to designing and carrying out field programs to follow up on encouraging historic results.”
Empirical Project
The Company’s flagship gold-copper-molybdenum porphyry project, the Empirical Project, located 12 km south of Lillooet, British Columbia, now totals 10,518 ha. The Empirical Project is situated in the Cordilleran Continental Arc which hosts 26 significant porphyry deposits, including Imperial Metal Corporation’s historic Huckleberry Mine and Noranda’s historic Babine Porphyry camp. Between 1981 – 1986, six out fifteen diamond drill holes intersected gold mineralization, including hole DD81-4 which assayed 3.67 g/t gold over 21 m from 36m. Previous exploration focused on molybdenite without an understanding or aim of targeting a larger porphyry system. For more information on the Empirical Project, please see the Company’s National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) Technical Report on the Empirical Project filed on SEDAR on March 24, 2020.
The recently acquired claims have multiple copper showings in the Southeast, including the Rickhill Showing where six surface rock samples collected in 1959 averaged 0.95% copper over 12.9 meters (Minfile 092INW022). Elevated copper in soil samples indicate that this zone of copper mineralization may be extended up to a total of 30 m (Skerl, 1959). In 1970, 538 soils were collected with copper intensities ranging between 6 ppm to 212 ppm (Assessment report 02530).
The additional ground to the southwest of the Empirical Project consists of two molybdenum showings namely, the Molybdenite Lake and Fyp showings where historic samples taken from quartz veins have assayed up to 0.32% molybdenum and 0.35 g/t gold (Nelson, J. (1985-10-01): B.C. Gold Reconnaissance 1985 – Lillooet Project – Final Report; Assessment Report 30875; Minfile 092ISW109, 092ISW110). Previous work has focused on the area’s molybdenum potential, with minimal exploration for gold.
The QP (as defined below) has not verified the results of the historic exploration and sampling on the new claims added to the Empirical Project’s property package, additional sampling will be required to verify the data.
Qualified Person
Mr. Rory Kutluoglu P. Geo. is the Qualified Person (“QP“) under NI 43-101 for the technical information in this news release and has reviewed the appropriate and available data for the Empirical Project and approves the technical contents of this news release. The QP intends to be part of the crew to mobilize to the additional Empirical Project expansion claims but cannot currently validate the historical databases nor the results of the historical work presented herein.
For Full Release: https://www.newswire.ca/news-releases/clarity-gold-mobilizes-field-crew-to-the-empirical-project-855986386.html
July 15, 2020 - Clarity Gold Mobilizes Field Crew to the Tyber and Gretna Green Projects
Clarity Gold Corp. (“Clarity” or the “Company“) (CSE: CLAR) is pleased to announce that it has finalized plans and is mobilizing a field crew to its recently acquired properties located on Vancouver Island, British Columbia, the Tyber and the Gretna Green Projects.
The field crew will consist of a three-person team who will be conducting initial ground reconnaissance and sampling. The objective of the program will be to review the geology and mineralization, locate and verify historic mineral showings, and assess the properties for geochemical sampling. The company will also be conducting a grab sample program on targeted zones to locate additional areas of interest. The goal of the site visit is to design an effective exploration strategy for the Tyber and Gretna Green Projects.
“We are very pleased to be getting started on our 2020 exploration program on Vancouver Island,” said CEO James Rogers. “The Tyber and Gretna Green projects have not seen modern exploration and we are looking forward to designing and carrying out field programs to follow up on encouraging historic results.”
Tyber Project
The 928 ha Tyber gold-copper-silver project (the “Tyber Project“) is located in southeast Vancouver Island in the Nanaimo mining division, approximately 1.4 km south of Arrowsmith Lake and 18 km Southwest of Parksville. Historic rock samples taken from the property between 1916 and 1986 assayed up to 2.328 oz/t Au (from historic adit dump), 16% Cu and 305.5 oz/t Ag (1916 BC Mines Annual Report; Minfile 092F236). The Tyber Project consists of several mineralized shear zones ranging from less than 0.30 m to 2.60 m. Two historical adits on the Tyber Project, believed to be targeting mineralized quartz veins within local shear zones, extend approximately 14 m and 47 m in length (1981 Assessment Report 09432).
The Clarity Gold Corp. Qualified Person has not verified the results of the historic exploration and sampling at the Tyber Project, additional sampling would be required to verify the data.
Gretna Green Project
The Gretna Green gold-copper-silver project (the “Gretna Green Project“) is 1,331 ha and is located in the Alberni mining division, approximately 24 km Southwest of Port Alberni and 1.3 km North of Henderson Lake. Historical reports show that a selected sample assayed 48.00 grams per tonne gold, 51.43 grams per tonne silver and 17.8 percent copper (Minister of Mines Annual Report 1921; Minfile 092F24). Limited information on the Gretna Green Project is available, however the QP (as defined below) believes the project warrants further exploration.
The Clarity Gold Corp. Qualified Person has not verified the results of the historic exploration and sampling at the Gretna Green Project, additional sampling would be required to verify the data.
Qualified Person
Mr. Rory Kutluoglu P. Geo. is the Qualified Person (“QP“) under NI 43-101 for the technical information in this news release and has reviewed the appropriate and available data for the Empirical Project, Tyber Project and Gretna Green Project and approves the technical contents of this news release. The QP intends to visit the additional Empirical Project claims, Tyber Project and Gretna Green Project shortly and thus cannot validate the historical databases nor the results of the historical work presented herein.
For Full Release:
https://www.newswire.ca/news-releases/clarity-gold-mobilizes-field-crew-to-the-tyber-and-gretna-green-projects-857198148.html
July 06, 2020 - Clarity Acquires Two Gold Projects and Expands Empirical Project
Clarity Gold Corp. (“Clarity” or the “Company”) (CSE: CLAR) is pleased to announce that it has acquired an additional two mineral property assets situated on Vancouver Island, British Columbia, namely the Tyber and the Gretna projects, and has increased the size of its Empirical project located 12 km south of Lillooet, British Columbia (the “Empirical Project”).
The Company acquired 4,007.5 ha of additional mineral claims adjacent and contiguous to the west of the Company’s Empirical Project directly through online staking. The Company also entered into a mineral property purchase agreement dated July 5, 2020, pursuant to which the Company acquired a 100% interest in and to the 928 ha Gretna Green, 1,331 ha Tyber, and 1,109.7 ha of mineral claims adjacent and contiguous to the east of the Empirical project (collectively, the “Claims”) for a cash consideration of C$10,000 and the issuance of 1,250,000 common shares (collectively, the “Shares”) in the capital of the Company. The Shares issued in connection with the acquisition of the Claims will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Tyber Project
The 928 ha Tyber gold-copper-silver project (the “Tyber Project”) is located in southeast Vancouver Island in the Nanaimo mining division, approximately 1.4 km south of Arrowsmith Lake and 18 km Southwest of Parksville. Historic rock samples taken from the property between 1916 and 1986 assayed up to 2.328 oz/t Au (from historic adit dump), 16% Cu and 305.5 oz/t Ag (1916 BC Mines Annual Report; Minfile 092F236). The Tyber Project consists of several mineralized shear zones ranging from less than 0.30 m to 2.60 m. Two historical adits on the Tyber Project, believed to be targeting mineralized quartz veins within local shear zones, extend approximately 14 m and 47 m in length (1981 Assessment Report 09432).
Gretna Green Project
The Gretna Green gold-copper-silver project (the “ Gretna Green Project”) is 1,331 ha and is located in the Alberni mining division, approximately 24 km Southwest of Port Alberni and 1.3 km North of Henderson Lake. Historical reports show that a selected sample assayed 48.00 grams per tonne gold, 51.43 grams per tonne silver and 17.8 percent copper (Minister of Mines Annual Report 1921; Minfile 092F24). Limited information on the Gretna Green Project is available, however the QP (as defined below) believes the project warrants further exploration.
Empirical Expansion
The Company’s gold-copper-molybdenum porphyry project, the Empirical Project, located 12 km south of Lillooet, British Columbia now totals 10,518 ha. The Empirical Project is situated in the Cordilleran Continental Arc which hosts 26 significant porphyry deposits, including Imperial Metal Corporation’s historic Huckleberry Mine and Noranda’s historic Babine Porphyry camp. Between 1981 – 1986, six out fifteen diamond drill holes intersected gold mineralization, including hole DD81-4 which assayed 3.67 g/t gold over 21 m. Previous exploration focused on molybdenite without an understanding or aim of targeting a larger porphyry system. For more information on the Empirical Project, please see the Company’s National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) Technical Report on the Empirical Project filed on SEDAR on March 24, 2020.
The recently acquired claims have multiple copper showings in the Southeast, including the Rickhill Showing where six surface rock samples collected in 1959 averaged 0.95% copper over 12.9 meters (Minfile 092INW022). Elevated copper in soil samples indicate that this zone of copper mineralization may be extended up to a total of 30 m (Skerl, 1959). In 1970, 538 soils were collected with copper intensities ranging between 6 ppm to 212 ppm (Assessment report 02530).
The additional ground to the southwest of the Empirical Project consists of two molybdenum showings namely, the Molybdenite Lake and Fyp showings where historic samples taken from quartz veins have assayed up to 0.32% molybdenum and 0.35 g/t gold (Nelson, J. (1985-10-01): B.C. Gold Reconnaissance 1985 – Lillooet Project – Final Report; Assessment Report 30875; Minfile 092ISW109,092ISW110). Previous work has focused on the area’s molybdenum potential, with minimal exploration for gold.
“ We are building a solid foundation of exploration assets for Clarity with the acquisition of the Tyber and Gretna Green projects and the expansion of the Empirical Project” said James Rogers, Clarity’s Chief Executive Officer. “ We believe these properties are underexplored and represent an opportunity for Clarity to increase shareholder value with systematic exploration.”
Qualified Person
Mr. Rory Kutluoglu P. Geo. is the Qualified Person (“QP”) under NI 43-101 for the technical information in this news release and has reviewed the appropriate and available data for the Empirical Project, Tyber Project and Gretna Green Project and approves the technical contents of this news release. The QP intends to visit the additional Empirical Project claims, Tyber Project and Gretna Green Project shortly and thus cannot validate the historical databases nor the results of the historical work presented herein.
For Full Release:
https://www.businesswire.com/news/home/20200706005346/en/Clarity-Acquires-Gold-Projects-Expands-Empirical-Project
June 26, 2020 - Clarity Gold Corp. Completes Initial Public Offering
Clarity Gold Corp. (“Clarity” or the “Company”) (CSE: CLAR) is pleased to announce that it has successfully completed its initial public offering (“IPO”), including the full exercise of the over-allotment option by the agent for the IPO, Leede Jones Gable Inc. (“Leede Jones”), resulting in the issuance of 6,900,000 common shares in the capital of the Company (each, a “Share”) at a price of $0.175 per Share for total gross aggregate proceeds of $1,207,500.
The Company paid Leede Jones a cash commission of $108,675 and granted an aggregate of 621,000 agent’s options, each of which entitles the holder thereof to purchase one Share at a price of $0.175 per Share for a period of twenty-four (24) months from the date of issuance.
Following the completion of the offering, Clarity has 16,950,000 shares issued and outstanding. Clarity’s common shares are expected to commence trading on the Canadian Securities Exchange (the “CSE”) on June 29, 2020 under the trading symbol “CLAR”.
The proceeds will be used by the Company to fund its exploration program on its Empirical mineral property located in the Lillooet Mining Division, approximately 12km south of Lillooet, British Columbia, and for general working capital purposes.
This news release does not constitute an offer to sell or 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 a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For Full Release:
https://www.businesswire.com/news/home/20200626005082/en/Clarity-Gold-Corp.-Completes-Initial-Public-Offering