Willeson Receives $300,000 Grant From Manitoba Mineral Development Fund To Support Exploration At Beaucage
Toronto, Ontario, December 20, 2022 – Willeson Metals Corp. (the “Company” or “Willeson Metals”), is pleased to announce that exploration at its Beaucage Gold Project ("Beaucage") will be supported by a $300,000 grant from the Manitoba Mineral Development Fund ("MMDF").
Highlights of the $300,000 MMDF Grant:
- Awarded by MMDF and administered by the Manitoba Chambers of Commerce, the grant has been approved to help advance exploration at Willeson’s Beaucage Gold Project.
- A Contribution Agreement was signed on October 24, 2022 and Willeson has now received the first instalment of $100,000 supporting the 2022 field program. The remaining instalments of $100,000 each are to be received in May 2023 and September 2023 for our planned field program, including drilling, primarily at Star Lake, and is contingent on financing and renewal of permits.
The MMDF provides funding for mining and economic development projects in northern Manitoba and is pleased to support Willeson Metals and their exploration project. Chuck Davidson, President & CEO of the Manitoba Chambers of Commerce and Board Chair of the MMDF, added “Mining is the economic backbone of northern Manitoba and is essential in securing Manitoba’s economic future.”
Stephanie Hart, President & CEO of Willeson, stated, “I am grateful to the MMDF for their support of Willeson and the Beaucage Gold Project. It is an excellent example of how industry and the government can work together to provide development opportunities in Manitoba for mining and mineral exploration. We believe that the Lynn Lake area is underexplored for gold and having this award of funds further supports the quality of our flagship, the Beaucage Gold Project. The first $100,000 tranche of funding for our 2022 field program was utilized to define drilling targets for 2023. We look forward to sharing the results of our recently completed field program shortly.”
The Beaucage Gold Project is located approximately 55 km by air south-southeast of the town of Lynn Lake, Manitoba. Beaucage consists of 23 contiguous mining claims encompassing 5,888 hectares. Beaucage lies along the contact of the Lynn Lake Volcanic Belt and Kisseynew Gneissic Basin of the Churchill Province and boasts numerous significant historical surface gold assay values associated with multiple styles of gold mineralization, including iron formation (IF)-hosted; structurally controlled stockwork and veins in clastic sediments; and quartz-veined shear zones in the Black Trout Diorite. The project area has had very little modern exploration with almost no follow-up work on most of the high-grade gold occurrences. The Star Lake and Beatty diorite-hosted occurrences have never been drill tested.
The MMDF was launched by the Manitoba government in August 2020 with the specific goal of jump-starting mineral and economic development initiatives throughout the province with a focus on creating partnerships between First Nation communities and mining/exploration companies looking to explore and develop projects in Manitoba with Indigenous community involvement. The MMDF aims to support new economic development opportunities that capitalize on existing assets across Manitoba.
About Willeson Metals
Willeson Metals is a Canadian-based, privately-owned mineral exploration company focused on the acquisition, exploration, and development of high-quality gold projects in the province of Manitoba, with a particular emphasis on Proterozoic terrains, which have long been under-explored in Canada for gold. The Company’s portfolio of four, 100%-owned, gold projects are all located within the Proterozoic Lynn Lake greenstone belt of northern Manitoba.
Willeson Metals’ vision is to explore for and discover Tier 1 gold deposits in the Proterozoic terrains of Canada and to do so in a responsible, safe and sustainable manner in order to create long-term value for all stakeholders.
Ian Trinder, P.Geo. and Vice President, Exploration, for the Company and a qualified person as defined by National Instrument 43-101, has reviewed, and approved the technical content of this news release.
ON BEHALF OF THE BOARD
Stephanie Hart, President & CEO
For additional information, please visit Willeson Metals’ website at www.willesonmetals.com or contact:
President & CEO
Willeson Metals Corp.
289 937 6657
Cautionary Statements Regarding Forward Looking Information
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "plans", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this announcement relate to, among other things: the Company’s objectives, goals or future plans, statements, exploration and development plans, timing of the commencement of operations, estimates of market conditions, and use of the proceeds of the grant from the MMDF. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times.
Except as required by law, Willeson does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.