Electra Stone Ltd. Completes 2015 Prospecting Program
22.10.2015 | Accesswire
VANCOUVER, BC / ACCESSWIRE / October 22, 2015 / Electra Stone Ltd. ("Electra" or the "Company") (TSX.V: ELT) (FSE: 44E1) is pleased to announce the completion of their preliminary prospecting program for Nephrite Jade in the Liard Mining Division, Northern British Colombia.To date the Company has acquired a total of 5850 hectares of both mineral and placer tenures prospective for Nephrite Jade throughout BC. This initial prospecting program explored four of the Companies' six projects and increased the understanding of the region and economic potential of Nephrite Jade mineralization on the Company's tenures. Nephrite was confirmed on the recently acquired Greenrock Creek Placer Property located 6km East of the Polar Jade operation, and the Rustic Property located 8 km NE of the Cassiar Jade operation.
"The completion of this program is a positive first step towards Electra's plans of developing a vertically integrated BC jade mining, trading and marketing platform. The information provided will help prepare us for the next exploration season. We will continue to build out our exploration assets and knowledge thereof, while we expand our trading with additional shipments of BC Nephrite Jade for sale to markets in China," states John Costigan, CEO and Director of Electra.
NI 43-101 Disclosure
Neil Froc, P.Eng, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Electra Stone
Electra Stone Ltd. is building the world's first vertically integrated public Nephrite Jade mining, trading & marketing company. Electra is focused on international market growth and trade of Nephrite Jade from British Columbia into Asian markets with a specific focus on China. Electra also continues to operate its Apple Bay aluminum-silica quarry on Vancouver Island, which has been in continuous operation since 2003.
About BC Jade
British Columbia is the world's largest producer and exporter of nephrite Jade. Occurrences of Nephrite in BC consist of glacially deposited boulder fields, talus blocks and in situ lenses. In-situ nephrite deposits occur at or near contacts of ultramafic/mafic rocks and metasedimentary or igneous felsic rocks of oceanic terranes. Interest in BC jade has increased over the past several years resulting in a dramatic increase of both price and demand.
For further information or interests on BC Jade or Electra Stone please visit www.electrastone.com or contact Tyler Lowes at tyler@electrastone.com, 604-681-1568.
On behalf of the Board of Directors
"John Costigan"
President and Director
Forward-Looking Statements: This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate”, "proposed", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.