Vancouver, British Columbia--(Newsfile Corp. - March 29, 2022) - Ophir Gold Corp. (TSXV: OPHR) (OTCQB: KPZIF) (FSE: 80M) ("Ophir" or the "Company") is pleased to announce the appointment of Mr. Jeffrey Reeder as a Technical Advisor for the Company's Breccia Gold-Silver Property (the "Property"), Idaho.
"Jeff brings decades of experience as an advisor in conceptual geological modeling, as well as planning exploration programs for resource companies. Jeff is a great fit for Ophir, as we continue to unlock the gold and silver potential at Breccia. 2022 should be a very exciting year for Ophir, as we build upon the data collected from the 2021 high-grade gold-silver drill results and CSAMT survey," comments Shawn Westcott, CEO of Ophir Gold Corp.
Jeffrey J. Reeder, P. Geo., has a B.Sc. from the University of Alberta and since 1992 has been registered as a professional geologist with the Association of Professional Engineers and Geoscientists of British Columbia.
Mr. Reeder has over 30 years of exploration experience both in British Columbia and Latin America. Mr. Reeder has spent most of his career working and managing junior resource companies. Early in his career, he worked on all the major porphyry deposits explored and developed by the HDI group. These deposits included Mt. Milligan, Fish Lake, Kemess, and the Casino Cu-Au deposit in the Yukon. Mt. Reeder later relocated to Latin America and worked in Venezuela, Peru and Brazil. He was responsible for identifying and acquiring both Aguila Copper-Moly being developed by Mexican mining company Industrias Peñoles and Pinaya Copper-Gold project currently being explored by Kaizen Discovery. Mr. Reeder also identified a new style of gold mineralization in the Tapajos Region in Brazil previously not recognized by previous operators and regional geologists. Mr. Reeder is currently the CEO of Peruvian Metals which successfully achieved positive cash flow from its operations in 2020. Mr. Reeder is responsible for acquiring all the Peruvian assets by application and continues to acquire new properties in South America. Mr. Reeder's conceptual modeling and geological theories attracted and successfully negotiated several joint ventures with companies such as Silver X Mining, IAMGOLD, Rio Alto Mining, Rio Tinto, Cambior, and First Quantum.
Ophir also announces that, pursuant to its stock option plan, it has granted an aggregate of 200,000 options to purchase common shares in the capital of the Company to certain consultants of the Company, exercisable at a price of C$0.10 per share for a period of five (5) years from the date of grant.
About the Breccia Gold Property
The Breccia Gold Property consists of 102 claims covering approximately 1,836 acres (743 ha) within the Blackbird Mining District, in Lemhi County, approximately 40 kilometres southwest of Salmon, Idaho, USA. The Property is accessible by paved highway and a network of well-maintained gravel roads and is host to the historical Gahsmith Gold Mine. Exploration and development activity on the Property dates back to the 1930's and has been exploited by at least eight adits, with several thousand tons of mineralized quartz veined material extracted. In the 1980s, a bulk sample of 4,621 tons was completed with an average grade of 0.335 oz/t Au reported. The current Property includes the Meadows Fault Zone and the lesser explored, parallel Musgrove Mine Trend. Recent exploration carried out in 2018, 2019, and 2020 included the remapping and sampling of the Meadows Fault Zone and the results are suggestive of the existence of a significant low-sulfidation, epithermal gold system. Surface results include 57.6 g/t Au and 19.6 g/t Ag in outcrop, and 69 g/t Au and 27.5 g/t Ag in float.
About the Company
Ophir Gold Corp. is a gold exploration company focused on the exploration and development of its flagship property, the past producing Breccia Gold Property located in Lemhi County, Idaho. The Company has an option to earn a 100% interest in the Property over a three-year period from Canagold Resources Ltd. (formerly Canarc Resource Corp.) and DG Resource Management Ltd.
On behalf of the Board of Directors
"Shawn Westcott"
Ophir Gold Corp.
For further information, please contact:
Shawn Westcott, CEO
Phone 1 (604) 365 6681
swestcott@ophirgoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risk related to the failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118483
