(TheNewswire)
Brossard, Quebec / TheNewswire / August 31st, 2018 -- Nippon Dragon Resources Inc. (“Nippon” or “NDR”) (TSX-V Symbol: NIP), is pleased to announce that it has signed a joint-venture agreement with a group of private investors to develop its Denain gold property.
The objectives of the newly formed joint-venture are twofold, the first objective is to drive a 400 metre exploration decline to evaluate the grades from surface to -60 metres, and the second objective is to perform a bulk-sample with Nippon’s exclusive and patented thermal fragmentation mining process.
Within the joint-venture agreement, the private investor group must provide $CDN 3 million in order to obtain a majority interest in the project and it is non-dilutive to Nippon’s shareholders. Management will provide additional information pertaining to the joint-venture agreement and updates regarding the scope of work in a timely manner.
“I am extremely pleased with the interest by the group of private investors in our Denain project and the fact that the transaction is non-dilutive to Nippon’s shareholders” stated Mr. Donald Brisebois, president & CEO of Nippon Dragon Resources Inc.
Denain project
The Denain property is located approximately 60 km east of Val d'Or, Quebec. The property is readily accessible from an all-weather road and this gold bearing zone resembles the iron formation found at the nearby past-producing Chimo mine. Nippon Dragon has in the past assessed the mining potential of the property by performing diamond drilling to evaluate the dip of the vein; the drilling of pilot holes and thermal fragmentation was also conducted during the evaluation process. Follow the link to view the press release pertaining to the previous work conducted on the Denain property: http://www.marketwired.com/press-release/mirabel-resources-inc-conclusive-bulk-sample-results-on-denain-property-532122.htm
About Nippon
Nippon is active in the exploration and the development of gold resources in Quebec. The Corporation holds a gold property with resources recognised in accordance with NI43-101 and also an exclusive license for the Thermal Fragmentation mining process.
Le présent communiqué est disponible en français site web de Ressources Nippon Dragon
The company’s growth strategy is based on:
- The development of its gold deposits with the objective of producing revenue from its operations;
- Increasing the value of its mining assets by prioritizing the exploration targets; and
- The commercialisation and employment of its thermal fragmentation technology.
For additional information:
John Stella, Investor relations (514) 718-7976 jstella@nippondragon.com
Donald Brisebois, President & CEO (450) 510-4442 dbrisebois@nippondragon.com
Neither 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. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7
Tel: (450) 510-4442 www.nippondragon.com
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