Val-d’Or, Québec – March 21, 2022 – International Prospect Ventures Ltd. (TSXV: IZZ) (the “Company” or “IZZ”), is pleased to announce that it has increased its property package in the Pilbara Craton of Western Australia (WA) with the addition of 2 new tenements, acquired 100% by staking. The additional tenements were granted to the Company’s wholly owned subsidiary, Valroc Ventures Pty Ltd, bringing its total land holdings in WA to 14,073 hectares.
Martin Walter, President & CEO, commented, “Now that the Government of Western Australia has relaxed its border entry requirements originally imposed due to the COVID-19 pandemic, and has essentially opened WA back for up to all investment, the Company intends to get on with its exploration plans for its eastern Pilbara tenements.”
The two new tenements, E46/1390 (~318 ha; 1 block) and E16/1391 (~5385 ha; 17 blocks), are located 1.7 km west and 185 km south-southeast, respectively, of the Company’s Mosquito Creek Basin tenements (E46/1197, 1198, 1201, 1202). Annual work requirements are AUD$10,000 for E46/1390 and AUD$20,000 for E46/1391.
Tenement E46/1390, referred to as the Moss-Creek tenement, compliments the other four Mosquito Creek Basin tenements (E46/1197, 1198, 1201 and 1202), and will be explored for gold, base metals and lithium.
Tenement E46/1391, referred to as the Balfour tenement, is located in the southeast portion of the Fortescue Basin, underlain by Fortescue Group rocks, and covering about 12 km of a granite-volcanic unit contact previously explored for gold and base metals. Historical exploration work on the tenement reported from 3 ppb to 1201 ppb Au. The highest gold value (1201 ppb Au) is reported from siliceous volcanic breccia and other elevated gold concentrations are associated with quartz veining with iron-oxide (hematite), sericite and epidote alteration. There are numerous historical Fe, Mn, Cu, and Au occurrences in the region.
A qualified person, as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects, has not done sufficient work to verify the results of the historical data and information reported herein. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.
Dr. Scott Jobin-Bevans, (PhD, PMP, P.Geo.), a Director and Vice-President, Exploration for the Company, is a Qualified Person pursuant to National Instrument 43-101 and has reviewed and approved of the technical content of this news release as it relates to the Property.
For additional information, please contact:
2864 chemin Sullivan
Val-d’Or, Québec J9P 0B9
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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