Kirkland Lake, Ontario--(Newsfile Corp. - February 10, 2020) - RJK Explorations Ltd. (TSXV: RJX.A) (OTC: RJKAF) is pleased to announce that the Company has entered into a third option agreement with Power Group Projects Corp., (PGPC) for certain claims comprising some 640 hectares located in Gillies Limit Township approximately 11 kilometers south of Cobalt, Ontario.
RJK has identified four geophysical targets of interest within this claim group, located west and adjoining the Kon claim group where the company has made a new kimberlite discovery. Please see news release of February 05, 2020 for the discovery details.
Please visit our website for an updated map of our optioned and staked land claims, and a local map including the new Power Group Projects targets: https://www.rjkexplorations.com/kon-diamond-exploration-claims/
RJK holds a dominant land position land position in the Cobalt camp through staking and option agreements with prospectors and junior companies consisting of approximately 17,000 hectares.
Under the terms of the agreement, RJK Explorations Ltd will pay a fee of $12,000 cash per year for a period of three years for a total of $36,000 to PGPC to enter into an arrangement whereby RJK Explorations Ltd., will have the right to identify, sample and drill test with one diamond drill hole any identified potential Kimberlite targets within PGPC land position. The balance of the PGPC terms in the agreement are the same as outlined in the November 11, 2019 option agreement news release by RJK.
Glenn Kasner, President
Mobile: (705) 568-7567
Web Site: https://www.rjkexplorations.com/
Company Information: Tel: (705) 568-7445
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning future mineral exploration and property option payments. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the financial resources of the Corporation being inadequate to carry out its stated plans. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52276