Mr. Ed Kruchkowski reports
DECADE ACQUIRES PROPERTY IN GOLDEN TRIANGLE SURROUNDED BY REPORTED RESOURCES OF 200 MILLION GOLD EQUIVALENT OUNCES
Decade Resources Ltd. has entered into an option agreement to acquire the North Mitchell property located 70 kilometres north of Stewart, B.C. The North Mitchell property is situated amongst several of the world's most significant copper-gold deposits within the Golden Triangle of northwestern British Columbia. The property consists of 963.45 hectares (9.63 square kilometres) surrounded by Cu-Au deposits on three sides.
Decade has the right to earn a 70-per-cent undivided interest in the property by making the following payments to the optionor as follows.
Upon the completion of all the above share payments, Decade and the optionor will enter into an agreement, granting a 1-per-cent net smelter return royalty in favour of the optionor. Half of the optionor's interest in the new NSR (being a 0.5-per-cent net smelter return royalty) may be purchased by Decade upon payment of $3-million within 12 months before the date any commercial production commences on the property. Shares issued pursuant to this agreement will be subject to a four-month-and-one-day resale restriction from the date of issuance of the applicable optionee shares pursuant to National Instrument 45-102 (Resale of Securities). Decade has the right to purchase the 30-per-cent interest from the optionor at a price equal to two-thirds of the value of the 30-per-cent interest based upon a 5-per-cent discounted net present value report based upon proven and probable ore reserves as defined by a feasibility report.
The agreement is subject to TSX Venture Exchange approval.
Of particular interest is Tudor drill hole PS-23-10 drilled toward the property. This is the description of the drill hole copied from a Oct. 31, 2023, news release: "PS-23-10: drilled at a relatively shallow dip to the south to explore for extension of the mineralized zone encountered in drill hole PS-23-07. This hole intersected 102.15 m of 1.28 g/t AuEQ (1.23 g/t Au, 3.43 g/t Ag, 0.01 per cent Cu), including two enriched zones comprising 42.5 m of 1.87 g/t AuEQ (1.80 g/t Au, 5.76 g/t Ag, 0.02 per cent Cu), and 25.5 m of 1.60 g/t AuEQ (1.58 g/t Au, 1.81 g/t Ag, 0.01 per cent Cu). Further downhole, a high-grade vein zone was intersected and returned 1.5 m of 24.70 g/t gold. These results are the highest gold grades seen at PSZ to date, and they are located between the Goldstorm deposit, 3 km to the northeast, and Seabridge Gold's Iron-Cap deposit, 2.5 km to the southwest."
Ed Kruchkowski, president, stated: "Having worked in this area during the 1970s and 1980s, I feel that this a wonderful opportunity for the company [based] on my knowledge of the property. The North Mitchell property contains the rocks and geology necessary to host porphyry copper-gold and epithermal gold mineralization. The property is located within the Stikine terrane, the locale for large Cu-Au deposits. The property is underlain by similar lithologic units hosting these deposits, and the company believes that it is one of the most exciting mineral properties available in British Columbia."
Ed Kruchkowski, PGeo, a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the company and is responsible for and approves the contents of this release. Mr. Kruchkowski is not independent of Decade as he is the president of the company.
Decade is a Canadian-based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grassroots to advanced ones. Its properties and projects are all located in the Golden Triangle area of Northern British Columbia.
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