top of page

Geologica Acquires 100% of Lincoln Claims Developing District Play in Prolific Atlin Mining District


Geologica Resource Corp is engaged in the acquisition, exploration and development high grade deposits of metals critical to the electrification of the planet. Our exploration focus is currently to advance the Topley Copper/Gold Project, located east of Smithers B.C. in the highly prospective Babine Prophry District on trend with the past producing Granisle and Bell copper mines as well as the recent NAC copper discovery. The Topley property is surrounded by operating mines and deposits.  The property is road accesible year round on highway 118, has BC hydro power on site and is only 40km to a rail line to deep sea ports.   Historical work has identified a mineralized Cu-Mo prospect in the eastern portion of the claims – one of the few areas containing outcrop. Rock samples also contain up to 6.84 g/t Au.  Recent work by Geologica, consisting of a re-interpretation of detailed magnetics flown by Riverside/Antofagasta and SGH sampling throughout the Property, has advanced targets within the western portion of the claims. The Topley property is on trend with the past producing Bell and Granisle mines and the recent NAK discovery. 2023 Drill core from NAK assayed at 1.09% Cu equivalent over more than 300 metres.

Vancouver, British Columbia--(Newsfile Corp. - September 18, 2024) - Geologica Resource Corp. (CSE: GRCM) (FSE: 862) ("Geologica" or the "Company") is pleased to announce the strategic acquisition of the "Lincoln" property ("Lincoln") in the Atlin mining district of British Columbia.

Lincoln Claims

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/10667/223696_142b7f75c4d79bd4_001full.jpg

The Lincoln Property is thought to have the potential of hosting lode gold mineralization. These claims contain similar geology to the producing Otter Creek gold claims 33km to the southwest. Otter Creek has been the recent focus of activity in the Atlin placer camp with the discovery of Lode Gold deposits (1). At Otter Creek Placer mining uncovered significant mineralization in bedrock, resulting in multiple samples of in-situ bedrock gold along Otter Creek. Bonanza grade gold is hosted in quartz veins emplaced along structures in phyllite bedrock. The coarse gold in bedrock supports a new placer source for the Atlin Gold Fields. The findings at Otter Creek are not necessarily indicative to the mineralization on the Lincoln Property.


Recent exploration (2019) by the vendor was designed to further verify the potential of the Lincoln Property to host gold mineralization similar to Otter Creek. The Spatial Geo Hydrocarbon survey ("SGH") indicated a Gold anomaly with a rating of 4 out of 6, indicating the zones warrant more work (BC Geological Survey Assessment Report 39153). Drill testing zones with an SGH Confidence Rating of 4.0 (±0.5) have been drill tested and have had successful mineralization intersections. Lincoln Creek and Otter Creek are both covering areas in which the Surprise Lake Plutonic Suite contacts the Cache Creek Complex - where sedimentary, volcanic, and ultramafic rocks have been mapped. Both Spatial Geochemical Hydrocarbon (SGH) and MMI surveys identified gold anomalies.


Location

The Lincoln Property is situated in the Atlin Mining Division between Gladys Lake (~7 km to the East) and Surprise Lake (~16 km to the SW). Access to the claims is by ATV through a network of historical, unmaintained, and overgrown exploration roads. Abundant water is available for exploration and mining from lakes and creeks.


Property Purchase

Over the next 5 years Geologica will pay the vendor $105,000, issue 1,000,000 shares to the vendor and conduct at least $213,500 of exploration on the Lincoln. Geologica has committed to use the vendors company or a company approved by the vendor to conduct any exploration work on the property. The vendor has been granted a 2% net smelter royalty. 1% of the royalty may be purchased buy Geologica for $1,000,000.


About Geologica Resource corp.

Geologica Resource Corp. is a mineral explorer, focused on exploration of copper and critical minerals for electrification. Geologica has an option agreement and purchase agreements for 100% of the mineral claims known as the Topley Copper Project, located in the Babine Porphyry Belt of central British Columbia. The company recently acquired the Titan rare critical minerals/copper/gold property in the Atlin camp and has now added the Lincoln to its Atlin portfolio in northern British Columbia.


Further information on Geologica Resource Corp. can be found on the Company's website https://geologicaresource.com/ and on SEDAR at https://www.sedarplus.ca.


The accuracy of the technical content of this overview had been reviewed by David Mark P.Geo. David is a Qualified Person as defined under NI 43-101, and a member of the Company's board of directors. He approves the technical content of this press release.


Neither the Canadian Securities Exchange ("CSE") nor its Market Regulator (as such term is defined in the CSE policies) has reviewed or accept responsibility for the adequacy or accuracy of this news release.


Doug Unwin President & CEO (604) 762-5355 doug.unwin@geologicaresource.com


(1) Mihalynuk, M.G., Zagorevski, A., Devine, F.A.M., and Humphrey, E., 2017. A new lode gold discovery at Otter Creek: Another source for the Atlin placers. In: Geological Fieldwork 2016, British Columbia Ministry of Energy and Mines, British Columbia Geological Survey Paper 2017-1, pp. 179-193.


Forward-Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "ensuring", "believe", "anticipate", "will", "would" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, this news release contains forward-looking information pertaining to the Company's plans and objectives with respect to the Topley Project. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, failure to obtain all necessary regulatory approvals, risks and uncertainties inherent in the exploration and development of mineral properties. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.


Recent Posts

See All

Comments


© 2023 Frontier Merchant Capital Group. All Rights Reserved.

  • Instagram
  • Facebook
  • Twitter
  • LinkedIn
  • YouTube
bottom of page