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New Listing: Mongoose Mining Ltd. (CSE:MNG)

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The company has an option to acquire a 100% interest in the Chu Chua Gold Property, which is located 16 kilometers northeast of the town of Barrier, British Columbia, in the mineral-rich Kamloops Mining District where producing mines such as New Afton and Highland Valley and developed prospects such as Harper Creek and Apex provide significant economic input.

Additional Information:

Company: Mongoose Mining Ltd.
Stock Symbol: CSE: MNG
Date Published: Nov 29, 2019
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for Investmentpitch Media

Mongoose Mining Ltd. is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “MNG”.

The company has an option to acquire a 100% interest in the Chu Chua Gold Property, which is located 16 kilometers northeast of the town of Barrier, British Columbia, in the mineral-rich Kamloops Mining District where producing mines such as New Afton and Highland Valley and developed prospects such as Harper Creek and Apex provide significant economic input.

The property is a patch-work quilt of logging clear-cuts laced with haul roads and skidder trails.

Logging has improved access and the number and extent of bedrock exposures.

The property was first explored in 1984, drilled in 1985 and 1987, and has since received intermittent exploration attention.

The primary geological target is a felsic dome which is regarded as an ideal massive sulphide exploration
Target.

However, drilling has produced multi-gram gold intersections and high background values of copper, zinc and lead.

Recent surface prospecting has outlined a large gold-bearing target 4.5 kilometers long and 0.5 to 0.75 kilometers wide.

Overlapping EM and Magnetic anomalies are considered important exploration targets.

To exercise its option to acquire a 100% interest in the Chu Chua Gold Property, Mongoose is required to pay $557,500 in cash payments, issue 600,000 common shares and incur $625,000 in exploration
expenditures staged over 4 years.

The acquisition is subject to a 2% net smelter return royalty, which Mongoose has the right to purchase the first 1% of the royalty for $1,000,000 at any time prior to the commencement of commercial production.

The company recently closed its IPO, raising gross proceeds of $317,800 from the placement of 3,178,000 shares priced at $0.10 per share, with Canaccord Genuity acting as agent for the offering.

The shares are bid at $0.10 with no shares offered.

For more information, please contact Chris Allchorne, CFO, by email at cAllchorne@highwoodoil.com.

I’m Nadika Viswakula for Investmentpitch Media