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New Listing: 12 Exploration Inc (CSE:TWLV)

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The company is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals.

Additional Information:

Company: 12 Exploration Inc
Stock Symbol: CSE:TWLV
Date Published: May 22, 2019
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

12 Exploration Inc is one of the latest new listing on the Canadian Securities Exchange, trading under the symbol “TWLV”.

The company is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals.

The company holds an option to earn up to an 80% interest in the Deepwater Project located in the Afton and Sholes Townships, approximately 65 kilometers northeast of Sudbury, Ontario.

The property, consisting of thirty contiguous unpatented mining claims containing 356 units or approximately 5,700 hectares, is accessed by Highway 805, a well-maintained gravel highway, as well as secondary gravel roads.

The company can earn a 50% interest by incurring aggregate expenditures of $300,000 on or prior to September 30, 2019.

It can earn an additional 30% interest by completing a further $1,000,000 in expenditures on the property prior to December 31, 2020.

In 1897 gold was discovered in a weathered iron formation on the shoreline of Emerald Lake.

Several companies have been active on the property over the years, with Canadian Continental Exploration Corp. completing a 1,200 meter sub-vertical diamond drill number SU17-01 on claim 4277054 in 2017.

The drill hole targeted an anomaly that was generated from a 2008 geophysical program initiated by Vismand Exploration Inc., which was explained by the presence of thick sequence of very low conductivity meta-argillites.

Geophysical modeling of airborne magnetic data by CCEC has led to the interpretation of a deeply buried
magnetic anomaly located on the west shore of Emerald Lake, postulated to be an extension of the banded iron formation that hosts the Golden Rose gold mineralization located along the eastern shoreline of Emerald Lake.

The company plans to undertake a program of geological mapping, and geophysical surveying in this area.

Contingent on favourable results, a limited diamond drilling program is recommended to test the interpreted iron formation for its gold potential.

A budget of $300,000 is proposed to complete the recommended geological mapping, geophysical surveying, and the follow up diamond drilling program.

For more information please refer to the NI 43-101 Technical Report on Sedar.

The company recently completed its IPO, raising gross proceeds of $600,000 from the placement of 4 million shares priced at $0.15 per share, with Industrial Alliance Securities acting as agent for the offering.

The shares are $0.15 bid and offered at $0.25, with no trades.

For more information please contact Eric Klein, CEO, at 416-725-7570.
I’m Cassandra Bolinski for Investmentpitch Media