WOODSTOCK, ON, April 27, 2021 /PRNewswire/ -- Joshua Gold Resources Inc. ("JSHG" or "Joshua") (OTCMKTS: JSHG) a mineral exploration company headquartered in Canada, is pleased to announce that it has acquired a one hundred percent (100%) interest in a mineral property (the "Joe-Anne Property") located in Benoit Township in Northern Ontario.
The Joe-Anne property is approximately 50 miles (80 kilometers) southeast of Timmins, ON. It consists of about 42 acres, and has an old adit (see picture above) where previous prospectors have conducted sampling. Geologically, the area around Benoit Township lies between the Larder Lake and Destor-Porcupine Faults. This area of Abitibi volcanics extends from Timmins, Ontario to Chibougamau, Quebec. The area was mapped by H. L. Lovell in 1965 and appears to be composed of metavolcanic rocks that are tholeitic in appearance and part of the Knojevis Group.
The property has yielded gold values over 13 grams per tonne in grab samples from previous prospectors. For more information on the Joe-Anne property kindly see this report: http://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/20000015238/20000015238_01.pdf
Joshua acquired a one hundred percent interest in the Joe-Anne Property through issuance to the vendors of two million, four hundred thousand (2,400,000) JSHG common shares. The vendors retained a two percent (2%) Net Smelter Royalty ("NSR") on the property, of which JSHG has the option to acquire 50% of the NSR from the vendors for a payment of one million ($1,000,000) Canadian dollars at any time.
Ben Fuschino, CEO of JSHG comments, "We are pleased to acquire another high-quality gold prospect, and our geological team will figure out precisely the exploration program needed for the property."
Ben Fuschino further adds, "With historical low interest rates, and central banks printing money hand over foot, I think precious metals is the place to be for the next few years."
Joshua Gold Resources Inc. (OTC Pink: JSHG) a publicly traded American gold and mineral exploration company headquartered in Canada, home to the three-billion-year-old Canadian Shield which contains a wealth of minerals from nickel, gold, copper, cobalt, niobium to chromium. Please visit http://www.joshuagoldresources.com/ for more information.
Safe Harbor Statement: This press release contains forward looking statements of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward looking statements are not a guarantee of future performance and results, and will not be accurate indications of the times, or by, which such performance will be achieved.
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SOURCE Joshua Gold Resources Inc.