Electra announces acquisition of Rustic Jade Project, Cassiar, British Columbia
VANCOUVER, Feb. 10th, 2015 (TSXv: ELT) (FSE: ) (the “Company” or “Electra”) is pleased to announce the acquisition, by staking, of a nephrite Jade project totaling 2,225 hectares located within the Liard Mining Division near Cassiar, British Columbia.
The “Rustic Jade Project” is approximately 25km north of the town of Cassiar and falls within a similar structural geology of the currently producing Cassiar Jade mine.
Proposed Exploration Program
The company would also like to announce that it has filed a notice of work application to the BC
ministry of mines to begin the exploration and development process. The 2015 proposed
program will be a field survey and Data compilation consisting of:
Magnetic Survey over strike
Up to 300m of drilling to delineate potential Nephrite mineralization
Field mapping focused on the High elevation Nephrite occurrence in the South West region of the property.
The drill results will be used to prepare an initial NI 43-101 Technical Report
Sales in B.C. Nephrite jade have reportedly increased by 300% over the past three years according to private producers. The 2008 Beijing Olympics reignited China’s interest in nephrite (BC Jade) because China used the stone in Olympic medals and ran a campaign to remind its residents that nephrite is the country’s traditional jade.
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.”
Additional information on BC Jade and Electra’s project can be found below.
For further information or interests on BC Jade or Electra Stone please contact Tyler Lowes at email@example.com or call 604-681-1568.
On behalf of the Board of Directors
President and Director
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”, “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.