JIULIAN RESOURCES INC. (TSX-V: JLR) (“Jiulian” or the “Company”) is pleased to announce that it has received a five-year area-based permit from the British Columbia Ministry of Energy, Mines and Petroleum Resources to establish up to sixty (60) drill sites and four (4) kilometers of exploration trail for core drilling on its Big Kidd Property located near Merritt, British Columbia. The Company also announces that it has contracted SJ Geophysics Ltd. of Delta, BC, to complete a high resolution Volterra-3D array IP survey (www.sjgeophysics.com/volterra) centered over the Big Kidd Breccia in advance of a 4000-meter winter drill program, which is expected to commence in early 2019. The 3D IP survey was completed over the weekend and results of the IP survey will be released once the final deliverables have been received by the Company.
Jiulian has also commenced construction of core logging and cutting infrastructure at a warehouse facility in West Kelowna, BC, only 87 kms from the property along highway 97C. Drill core will be transported daily from the drill sites to the warehouse facility, where it will be logged, processed, cut, and sampled, allowing the Company to maintain a low all-in drilling cost throughout the program.
- Historic drilling on the Project partially tested the lateral extent of gold-copper porphyry mineralization hosted within a 525m x 400m (surface dimensions) breccia pipe (the “Big Kidd Breccia” or “BK Breccia”) to a maximum vertical depth of less than 275m.
- The 2019 drill plan will test the porphyry with 8 holes having planned depths of 600 meters. The program will employ a drill rig capable of attaining up to 2000 meters depth, should high-grade mineralization be encountered at depth.
- The Big Kidd property is located 25 km (approximately 15 minutes via Highway 97C) east of Merritt, BC, and 102 km west of the Company’s head office in Kelowna, BC. The Property has a network of gravel roads, LTE cellular service and a high-voltage power line running across it.
- Gold-copper porphyry mineralization on the Project is hosted within the Central Facies of the Nicola Volcanic Group, a narrow belt of alkalic volcanic and intrusive rocks of the Quesnel Terrane which host both Copper Mountain Mining Corp.’s Copper Mountain Mine located 63 kilometers to the south of the Project, and New Gold Inc.’s New Afton Mine located 75 kilometers to the north of the Project.1
- Teck Resources Limited’s Highland Valley Copper Mine is located 62 kilometers northwest of the Project.1
- Nicola Mining Inc. operates a toll milling facility on the site of the historic Craigmont Copper Mine, 31 kilometers northwest of the Project.1
- Historic intercepts on the Big Kidd Project include:2
- 116.0m of 0.79g/t Au and 0.12% Cu in hole DDH97-05
- 127.3m of 0.42g/t Au and 0.18% Cu in DDH99-02
- 75.0m of 0.75g/t Au and 0.25% Cu in DDH92-01
The Company’s board of directors has approved the granting of 1,150,000 incentive stock options to certain directors, officers and consultants of the company. The options are exercisable at a price of 0.07 cents per share for a period of five years from the date of grant.
Independent Director of Jiulian, Scott Dorion, P.Geo., is the designated Qualified Person of the Company as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this release.
Jiulian is an exploration company engaged in acquiring and advancing mineral properties located in southern British Columbia. The Company’s flagship asset is the wholly-owned, 4,056-hectare Big Kidd property, located near Aspen Grove, BC. The Company also wholly-owns the 8,654.49-hectare Little Fort property, located near Little Fort, BC. Jiulian Resources is based in Kelowna, British Columbia, and is listed on the TSX-V under the symbol “JLR”.
ON BEHALF OF THE BOARD OF DIRECTORS OF
JIULIAN RESOURCES INC.
“X. Charlie Cheng”
Chief Executive Officer
For more information regarding this news release, please contact:
Ed Milewski, Director
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company’s financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company’s Management’s Discussion and Analysis reports filed under the Company’s profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.
1Adjacent Properties – This news release contains information about adjacent properties on which Jiulian does not have the right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.
2Historical information contained in this news release cannot be relied upon as the Company’s QP, as defined under NI 43-101 has not prepared nor verified the historical information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.