Supernova Metals Corp. Receives Exploration Permits for Canning's Brook and Gander South
Sean McGrath, CEO of Supernova, commented: "We have now received permitting for all of our Gander Gold Belt properties, and are eager to receive the inaugural results from both the Gander North and Canning's Brook exploration programs which are currently underway".
About Canning's Brook
The Canning's Brook Property consists of 60 claims in two contiguous claim blocks covering 1,500 hectares of prospective ground for gold exploration. The property is bordered to the southwest by Crest Resources Inc. (CRES.C) and to the northeast by TRU Precious Metals Corp. (TRU.V) and its Rolling Pond property which is currently being explored.
The Canning's Brook claims are underlain by Botwood Group and Spruce Brook siliciclastics sediments of Silurian and Cambrian-Ordivician ages respectively. GSC airborne magnetic surveys suggest significant regional scale structural features exist within the claims boundaries and the property is located at the junction of the Mt. Peyton Intrusive Suite and major structures/thrusts referred to as the Great Bend.
Supernova has an option to acquire a 100% interest in the Canning's Brook property subject to a 2% NSR held by the Vendor.
About Gander South
The Gander South Property, consisting of 97 claims and covering 2,425 hectares, is also located in the heart of the Central Newfoundland Gold Belt; approximately 45 kilometers southwest of the Queensway gold discovery. Gander South is situated directly adjacent to the Mount Peyton Intrusive Suite, the claims are underlain by Botwood Group Sediments and located within a very prospective and complex geological environment. The property is bordered to the west by Metals Creek Resources Corp. (MEK.V) and to the east by Sassy Resources Corp. (SASY.C).
The claims are also located 1.5 km directly along strike from the Beaver Brook Antimony Mine and near numerous high priority gold occurrences and recent till discoveries, such as the Eastern Pond Target, held by New Found Gold Corp. (NFG.V). As reported by New Found Gold Corp. on August 27, 2020, the newly defined Eastern Pond Target is comprised of two areas where recent till results have shown highly anomalous total gold grain counts including a high percentage of pristine gold grains, and yielded several sub-crop samples up to 15.0 g/t Au. Furthermore, the Eastern Pond Target constitutes a new fertile gold region centered along regional faults approximately 45 km south of the current Queensway North drill program area.
Supernova has an option to acquire a 100% interest in the Gander South property subject to a 2% NSR held by the Vendor.
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The technical information in this news release has been reviewed and approved by Roger March, PGeo and a Director of Supernova. Mr. March is the qualified person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
SUPERNOVA is a growth-oriented exploration company focused on acquiring and advancing natural resources opportunities within North America. Supernova has a growing and diversified portfolio of assets, including Gold, Silver, Lithium, and Vanadium assets.
ON BEHALF OF THE BOARD
CEO and Director
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements regarding Forward-Looking Information:
Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes "forward looking information", with respect to a performance expectation for Supernova. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Supernova carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.