Mr. Graham Keevil reports
TAJIRI RESOURCES; NON-BROKERED PLACEMENT;
PHASE II DRILLING AT THE KABURI PL IN Q2 2014, AND OGK COPPER-GOLD
PROPERTY OPTION AGREEMENT
Tajiri Resources Corp. has opened a non-brokered private placement offering of up to 10 million units in
the capital of the company at a deemed price of five cents per unit. Each unit will consist of one common share and
one common share purchase warrant entitling the holder to purchase an additional common share at a price of 10 cents per whole warrant for a period of 24 months from the closing of the offering. Funds will be used to further
gold exploration at the 100-per-cent-owned Kaburi PL gold property, Guyana, South America, company due diligence on
potential acquisitions and for general working capital purposes. Finders' fees within exchange regulations may be
paid on additional portions of the offering should it exceed the targeted amount, and closing is subject to approval by
the TSX Venture Exchange.
Further to the above, the company confirms it is in final stages of planning for 1,500 metres of additional reverse
circulation drilling at the Kaburi PL gold property, Guyana, South America. The program will focus on
targets associated with a new, active, alluvial mining operation that is located outside of the company's original
2012 Kaburi exploration grid. During reconnaissance visits to the Kaburi property, company agents confirmed by
way of the verbal correspondence with the mine manager that the operation had produced 150 ounces of gold in its
first two days of hydraulic mining operations using a simple sluice box for recovery. As a comparable, the
company's 2013 gold discovery at Alwyn's pit was located within similar alluvial operations where production
was reported at approximately 40 ounces of gold over the same time frame.
In keeping with the gold exploration model developed by the company through all previous work, active alluvial
mining operations at Kaburi serve as highly prospective geochemical indicators of near-surface lode gold
mineralization; therefore, the company is extremely encouraged by these latest findings and is determined to test
this new area (as yet unexplored by the phase I grid) through RC drilling. Initial mineral exploration work on the
Kuburi PL focused on a grid covering approximately 25 per cent of the project area, and culminated in the discovery of a
mineralized gold system with a strike of over 350 metres and width of at least 120 metres, which remains open in all
directions. These additional alluvial operations on the Kaburi PL are highly prospective to the potential for
additional zones of lode gold mineralization being present within the tenement boundaries. The proposed
program is intended to demonstrate the Kaburi PL's gold mineralization, projectwide, and underscore the
property as an asset of major value in relation to the mine development currently under way in the immediate area.
As with the phase I program, all drilling will be contracted to Au Drilling Inc., a private, Guyana-based company,
operated by Dominic O'Sullivan, founder, and former managing director of Azimuth Resources Ltd. (now Troy
Resources), the West Omai gold mine developer, operating on ground contiguous to the company's 100-per-cent-owned
Kaburi PL gold property.
OGK option agreement
Tajiri Resources, as of April 6, 2014, has
entered into an agreement with Symbio Capital Corp. that will see the optionee earn up to a 70-per-cent interest in the company's OGK copper gold property, Omineca mining
division, British Columbia.
Under the terms of the agreements:
- The optionee will pay to the optionor as follows:
- $25,000 deposit upon execution of this agreement by all parties;
- A further $35,000 on or before the second anniversary of exchange approval;
- A further $40,000 on or before the third anniversary of exchange approval.
- Work on the property shall be carried out and paid for by the optionee, to a minimum value by
as follows:
- $250,000 on or before the first anniversary of exchange approval;
- A further $350,000 on or before the second anniversary of exchange approval;
- A further $750,000 on or before the third anniversary of exchange approval.
- Any excess in the amount of work required to be incurred by the end of a particular period may be carried
forward and credited toward future cumulative work requirements.
- Shares shall be issued to the optionor as follows:
- 200,000 shares within five business days following TSX-V approval;
- A further 300,000 shares on or before the second anniversary of exchange approval;
- A further 500,000 shares on or before the third anniversary of exchange approval.
The agreement is subject to the approval of the TSX-V, and certain other requirements, and is
expected to be finalized in the immediate future.
We seek Safe Harbor.
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