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Further details are provided below: Founding Members of the Alliance. The members of the Alliance seek to collaborate for the purposes of future offerings of crypto-tokens and potential future initial token "ITO" offerings.
Discussions are also underway with additional parties, who are looking to join the Alliance as members, and updates will be provided as the Alliance membership grows. The basis of the Alliance is to also increase the trust associated with any future issuance of Ethereum Blockchain Smart Contract Crypto-Tokens for Gold and Silver, as an alternative means of raising capital, potentially without equity dilution.
As previously advised, the Company has secured exclusive rights to 6 Six Ethereum Crypto-Token domain names, ticker codes, and associated smart contracts, for Gold and Silver commodity backed crypto-tokens. These may be used by the Alliance members, and progressively issued in any future ITO, using the models and associated intellectual property, developed by the Company.
It potentially provides the company with a new method of funding via an exciting and rapidly emerging crypto-token market. Given the fact that our Marudi Gold Project has an established mining license and recently announced mineral resource estimate, the timing couldn't be more ideal. The Alliance gives us the opportunity to further advance the project in a manner that may minimize shareholder dilution and maximize exposure to new investors in this growing marketplace.
Interest in the blockchain technology, for secondary market trading and clearing is growing. For example, the Canadian Securities Exchange CSE has recently unveiled plans to develop Canada's first platform for clearing and settling securities using blockchain technology".
Financing of this nature with a crypto-token offering backed by gold, will facilitate acceleration of start-up on mining operations and strengthen junior resource companies by reducing dilution. With extensive interests across a broad range of commodities, it is the largest gold producer in China and one of the most well-capitalized, experienced and successful miners in the world.
The investment will allow the Company to fund its ongoing multi-phase exploration program at Marudi, involving up to 10, metres of diamond drilling and 12, metres of trenching. This strategic investment is completely independent of the Alliance and not connected to it in any manner. Phase One - Currently Underway. Phase One of a multi-phase exploration program is currently underway at Marudi.
The objectives of this first phase are: Exploration by trenching and sampling is an important, cost-effective method for identification of drill targets in saprolite terrane. The area of immediate focus represents less than five percent of the property. The new locations of interest within this area are: The work will be conducted under the supervision of Mr.
Lock e Goldsmith, M. The on-site geological staff will be supported by the property's fully equipped mining camp which comes with employees and service buildings. Once Phase One is completed, the collected data will be reviewed, analyzed and used in the planning of the Company's diamond drilling program.
The Company encourages all interested parties to visit the Company's website www. The property, located in Guyana, South America, is unique in that it has a mining license in good standing, all-season road access, infrastructure in place, with an established mining camp serviced by employees, service buildings, and a full-time mining manager.
The property has three known gold bearing areas, specifically the alluvial areas , the saprorlite overburden, and the underlying hard-rock. There has been 42, metres of historic diamond drilling holes completed on the Project by prior operators.
The Company has recently completed a mineral resource estimate on the Mazoa Hill zone of , indicated gold ounces within 4,, tonnes grading 1. There exists excellent exploration upside through the development of previously identified, highly-prospective mineralized targets on the Project. For information concerning the mineral resource estimate and the Project, readers are encouraged to review "Technical Report: The country is English speaking and under British Common Law with a democratically-elected government.
It has an established mining act and a rich history of gold production. In , , ounces of gold was produced by operators mining in the country. The Fraser Institute's Annual Survey of Mining listed Guyana as the third best mining jurisdiction with regards to investment attractiveness in the Latin America and Caribbean Basin sub-group. The Guiana Shield is the geographic gold-hosting region with over million ounces of gold inventory.
In , two mines in Guyana declared the commencement of commercial production: Goldsmith has reviewed and approved the scientific and technical content of this news release. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information.
These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for gold, changes in exploration costs and government regulation in Guyana, status of artisanal mining activities and associated rights, and other factors or information.
Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties.
Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
Comments by Michael Bennett, CEO and President Altamira Gold Corp "Altamira is extremely happy to be a founding member of this alliance, a brilliant initiative which lends well to the future financing for the most advanced of our projects, the Cajueiro Project. About The Marudi Gold Project The property, located in Guyana, South America, is unique in that it has a mining license in good standing, all-season road access, infrastructure in place, with an established mining camp serviced by employees, service buildings, and a full-time mining manager.