Mineral exploration company JSHG has completed an acquisition to secure full ownership of two Nemegosenda-based Niobium prospect properties, which it has named Prometheus and Vulcan.
Joshua Gold Resources Inc. (JSHG / OTC Pink Sheets) has secured full ownership of two niobium prospect properties near Lake Nemegosenda, in Northern Ontario. The properties, Prometheus and Vulcan, are in Collins and Chewett Townships, contiguous to claims owned by Sarissa Resources Ltd. patents ($SRSR). Plans include permit-pending exploratory drilling for later this summer.
Both properties are strong prospects for economic-grade niobium. Drilling took place on the properties in 1955 by Dominion Gulf, which produced impressive results according to the drill logs.
These reports were analyzed by JSHG Chief Geologist and Qualified Person (QP) Fred Sharpley, who said, “It will be interesting to confirm the Niobium mineralization discovered in 1955 by Dominion Gulf. I am more interested in going deeper than Dominion, as they only drilled to 60 meters. JSHG will drill 250 meters or deeper. Additionally, since Dominion never assayed for tantalum and rare earths, it will be fascinating to see if these elements are present, similar to the Sarissa Resources ‘South East Zone,’ roughly 600 meters to the south-east of JSHG’s Prometheus property.”
Based on the historical drill results from the site, JSHG is preparing drilling permit applications, and following that, will commence an exploratory drilling program later this summer.
In 1955, Dominion Gulf’s four drill holes on JSHG’s Prometheus property revealed 0.3% to 0.5% Nb205 Niobium mineralization across approximately 15-meter intersections. Given the shallow depth of 60 meters, further deep exploration is justified.
While assays for rare-earth minerals were not completed in 1955, the JSHG geological team considers the area a strong prospect for them and will conduct assays as part of the upcoming drill program planned for this summer.
Also in 1955, Dominion Gulf conducted an exploration of the Vulcan property, which sits directly to the east of Lake Nemegosenda. JSHG will attempt to confirm the intersections of pyrochlore mineralization obtained from Dominion Gulf’s “DDH-208-55-21” hole, which was drilled to 1,400 feet (425 meters). Pyrochlore can be an indicator of niobium, as well as rare-earth minerals.
JSHG CEO Ben Fuschino commented, “Our years-long interest in niobium remains very high. We’re excited to have more exploration opportunities in the area. Given niobium’s versatility and importance to modern industries, we see this mineral playing a critical role as the world transitions to more energy-efficient technologies.”
About Joshua Gold Resources Inc.
Joshua Gold Resources Inc. (OTC Pink: JSHG) is a publicly traded American gold and mineral exploration company headquartered in Canada, home to the 3 billion-year-old Canadian Shield, which contains a wealth of minerals from nickel, gold, copper, cobalt, niobium, and lithium to chromium.
Safe Harbor Statement: This press release contains forward-looking statements of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements are not a guarantee of future performance and results, and will not be accurate indications of the times, or by, which such performance will be achieved.
Investor Relations Contact:
Peter Nicosia, President of Bull In Advantage, LLC
Phone: (585) 703-6565