|August 09, 2017|
Napier Ventures Announces Exploration Program on Emerald Isle Copper Property
|VANCOUVER, BRITISH COLUMBIA - (NewsWire) (August 09, 2017) - Napier Ventures Inc. (TSX.V: NAP) ("Napier" or the "Company") is pleased to announce an exploration program on their Emerald Isle Copper oxide and porphyry property.|
Located 15 km north of Kingman, Arizona, Emerald lsle lies adjacent to the past producing Mineral park copper/molybdenum porphyry property located north of Kingman, and south of the prolific silver gold mining camp of Chloride, Arizona.
The work program will focus on mapping and sampling the area adjacent to Alum Wash, where new claims have been staked northeast of the Emerald Isle Pit and north of the Mineral Park mine. Geological mapping and geochemical and geophysical surveys, including soil sampling, magnetics and Induced Polarization (lP) will be conducted. This work program is the beginning of a strategic exploration program to methodically explore and conduct a complete property evaluation on this historic, mineral rich property.
"This is an exciting time for Napier and its shareholders as we embark on an evaluation of a mineral rich property with the potential to expand the resource defined in 2006." stated Donald Scoretz, President & CEO.
About Emerald Isle
Considerable exploration has been done at the Emerald Isle property in the past by several companies, including El Paso Mining and Milling Company, Arimetco, St. Genevieve Resources Ltd. and Sierra Resources Group Inc. Historical mining at the Emerald Isle property was of high-grade oxide copper by underground methods, followed by a small open-pit copper recovery by leaching and electrowinning. Past production is estimated by the U.S. Bureau of Mines at 1.4 million tonnes averaging 1 per cent copper.
In March, 2006, Roscoe Postle Associates Inc. prepared a mineral resource estimate for St. Genevieve in accordance with National Instrument 43-101, which provided indicated mineral resources of the Emerald Isle copper deposit as 2.22 million tonnes with an average grade of 0.62 per cent total copper (based on compilation of 135 drill holes totalling in excess of 30,000 feet, a total copper cut-off grade of 0.3 per cent total copper and 10-foot minimum vertical thickness).
Napier is not aware of any more recent mineral resource estimates. No qualified person has done sufficient work to classify the mineral resource estimate in the Roscoe technical report as current mineral resources, and Napier is not treating the historical estimate as a current mineral resource.
About Napier Ventures
Listed on the TSX Venture Exchange (TSX.V: NAP), Napier Ventures Inc. is a Vancouver based, junior mineral exploration Company managed by a team of professionals with extensive experience in mining exploration, finance and law. Management is dedicated to advancing the Company and increasing shareholder value by engaging in the search for value-adding mineral deposits through exploration and/or acquisition, as well as other resource opportunities as they may arise.
On behalf of the board of
NAPIER VENTURES INC.
Per: "Donald Scoretz"
Chief Executive Officer
Safe Harbour for Forward-Looking Information: This press release may contain forward-looking information based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the completion of the Private Placement, the use of proceeds of the Private Placement and contemplated approvals of the TSXV. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company assumes no obligation to update forward-looking information except as required by law.
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.
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