Jun 27 2015
GESPEG COPPER RESOURCES INC. is pleased to announce we have started our 2015 exploration program on the Port Daniel project. Our program intends to follow-up on last year's river sampling program and focus on the identification of new targets through rock sampling and small trenching.
The type of ore deposit we focus, consists of sedimentary copper deposits, generally tabular and or copper mineralization of the observed associated with chalcopyrite, bornite, native copper and chalcocite. The Port Daniel property is located within the Gaspé Peninsula, along the Baie des Chaleurs portion, approximately 15 km north of the Municipality of Port-Daniel.
Additionally, Gespeg has received the drilling permits for Sullipek East, which is part of Vortex The Vortex property is a copper and molybdenum property located 25 km West of Murdochville, Quebec. In 2012, the Company announced a discovery on hole 11-v-04, which recorded copper values of 0.94% over 29 metres including 1.38% Cu over 16 metres at 14m depth (see the Company's news release dated June 30, 2012). The Company intends to follow up this discovery in 2015 through the follow-on drilling of up to 1500 meters at Sullipek East.
Also, the Company has modified the private placement announced on April 22, 2015 by including a component for flow-through shares. While the total amount of the private placement is remaining unchanged at $750,000, investors now have the option of choosing flow-through shares priced at $0.07 per share or a $0.05 non-flow-through unit comprised of one common share and one 24 month common share purchase warrant with an exercise price of $0.15. The other terms of the private placement remain the same.
Source: http://gespegcopper.com/