Khalkos Consolidates Its Strategic Position in the Malartic Mining Camp
MONTREAL, QUEBEC--(Marketwired - May 11, 2016) - EXPLORATION KHALKOS (''Khalkos'') (TSX VENTURE:KAS) The management of Khalkos is pleased to announce the signing of a letter of agreement giving it the exclusive right to acquire 100% of the Révillard mining property, Malartic Township in Quebec. In return, Khalkos will issue, at the signing, 2 million shares and carry out exploration fieldwork totaling 1 million dollar over the next three years as well as a 50,000$ payment. The Révillard property will carry a net smelter return of 2%.
The Révillard property which is constituted of 30 claims, is adjacent to the Malartic property put under option by Khalkos with J.A.G Mines Ltd. (See press release June 22, 2015) as well as the Malartic Lake Shore property acquired from Golden Share Mining Corp. (See press release November 23 2015). The new acquisition allows Khalkos to consolidate its strategic position in the Malartic mining camp in which Khalkos now holds more than 80 claims. The Révillard project was subject to stripping and channel sampling in 2006 by Britannica Resources delineating an important surface showing, which however has not been drilled. The area of stripping is more than 100 metres in length by 30 metres in width and remains open at north, east and west. A total of 334 channel samples were collected (0,5 m in thickness) for a total of 125 linear metres. A total of 200 samples located in wall rocks and peripheries of the principal shear zone yielded grades from 0,01 to 1 g/t Au. 70 samples yielded 1 to 3 g/t Au, 35 samples yielded 3 to 6 g/t Au, 19 samples yielded grades from 6 to 10 g/t Au and 10 samples yielded 10 or more g/t Au. The highest grade was 29 g/t Au. (Press release of Britannica Resources, July 18 2006).
Robert Gagnon, President and CEO of Khalkos, states : «With this strategic acquistion, Khalkos confirms its mission to develop high gold grade properties, located close to surface and in proximity of world-class mining camp. Khalkos becomes the first modern exploration company to unify these three projects in Malartic Township with more than 80 claims located at the center of this world-class mining camp with major players such as: Agnico Eagle Mines, Canadian Malartic Mines and Oban Mining Corp..»
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.
A map is available at the following address: http://file.marketwire.com/release/1054027_Malartic_Claims.jpg
Contact
Khalkos Exploration Inc.
Robert Gagnon
President
(819) 825-2303
(514) 510-7964
rgagnon@khalkos.com
Khalkos Exploration Inc.
Christian Guilbaud
Corporate Development
(514) 813-7862
(514) 510-7964
cguilbaud@videotron.ca
www.khalkos.com