Electra Stone Ltd. (TSXV:ELT) Acquires Kutcho Jade Project
finance.yahoo.com
March 10, 2015 3:35 PM
Electra announces acquisition of Kutcho Jade Project,
Dease Lake Region, British Columbia
VANCOUVER, BC / ACCESSWIRE / March 10, 2015 / Electra Stone Ltd. (TSX Venture: ELT) (A14NCM.F ) (the "Company" or "Electra") is pleased to announce the acquisition, by staking, of a Nephrite Jade project totaling 478 hectares located within the Liard Mining Division near Dease Lake, British Columbia.
Geology
The "Kutcho Jade Project" is approximately 85km east of the Town of Dease Lake. The property is underlain by Mississippian to Permian rocks of the Cache Creek Group, namely conglomerate, phyllite, tuff and limestone all intruded by bodies of serpentinite and diorite.
History
Kutcho Creek Placer Jade operations lay approximately 2km from the southern edge of the project boundary. The Kutcho Creek Area has been a significant source of Jade in British Columbia for over 30 years, trenching of alluvial Nephrite Jade boulders occurs seasonally from June through September each year. Road access to the property lies approximately 2km from the eastern boundary, the project is accessible by 4WD and all-terrain vehicles seasonally each year from the south and west.
A map of the Kutcho Jade Project can be found following the link below
Kutcho Jade Project Map
Existing Projects
In Feb 2015 the company announced the acquisition by staking of the "Rustic Jade Project" 25 km north of the town of Cassiar and 8km north-east of the Cassiar Jade Mine.
Jade Market
Sales and price of B.C. Nephrite Jade have reportedly increased significantly over the past several years according to private producers. Increased interest in Nephrite Jade in South-East Asian countries, specifically China is the primary reason for the rise in demand.
John Costigan President of ELT stated that "Electra believes that this former 'niche market' has demonstrated significant growth and we are adopting a strategy to address opportunities within the global Jade Industry. The development of a reliable source of BC Jade is the first step in the development of this strategy."
National Instrument 43-101 disclosure
Jo Shearer, M.Sc., P.Geo, Electra Stone Ltd., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
For further information or interests on BC Jade or Electra Stone please contact Tyler Lowes at tyler@electrastone.com or call 604-681-1568.
On behalf of the Board of Directors
"John Costigan"
President and Director
Forward-Looking Statements:
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "reportedly", "proposed", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.
We seek Safe Harbor
SOURCE: Electra Stone Ltd. |
