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New Listing: Walcott Resources (CSE:WAL)

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The company has an option to acquire a 100% interest in the Cobalt Hill Property, which is located approximately 5 kilometres east of Castlegar in southeastern British Columbia.

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Additional Information:

Company: Walcott Resources
Stock Symbol: CSE: WAL
Date Published: Jul 31, 2019
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Walcott Resources is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “WAL”.

The company has an option to acquire a 100% interest in the Cobalt Hill Property, which is located approximately 5 kilometres east of Castlegar in southeastern British Columbia.

The property consists of 8 contiguous mineral titles covering a total area of 1,727 hectares.

In order to earn its 100% interest the company is required to pay $355,000 and issue 1,100,000 shares
in staged payments, with $280,000 and 700,000 shares remaining to be paid over the next 18 months

The property exhibits widespread gold mineralization generally associated with narrow, often wide-spaced quartz veins.

This high grade gold mineralization has been found in numerous locations throughout the property and is well described in historic assessment reports filed with the BC Ministry of Energy and Mines.

The various historic workings on the property occur in areas with one or more gold-bearing quartz veins.

Copper-cobalt mineralization was recently identified on the property during on-going prospecting and sampling programs.

Newly identified copper-cobalt mineralization at the BP showing represents a noteworthy, previously unexplored target.

Rock grab samples from the BP showing have returned values of 0.49% and 0.63% copper and 0.12% cobalt.

A logging road and numerous powerline access roads provide good road access to most parts of the property, with a high voltage power line crosses the property with a standard right of way.

A two phase exploration program is recommended for the Cobalt Hill Property.

Phase I will include compilation of previous exploration work along with the recently completed
ground geophysical survey results.

An expanded geochemical survey and structural geological mapping is required to produce more detail in mineralized areas.

The best targets defined by geology, geochemistry and geophysics will be trenched where bedrock is deemed shallow.

Upon completion of Phase I, implementation of a Phase II diamond drilling program will be considered.

The company recently closed its IPO, raising gross proceeds of $350,000 from the placement of 3.5 million shares priced at $0.10 per share.

PI Financial acted as agent on the offering.

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

For more information, please contact Marshall Farris, President and CEO, at 604-637-6373 or email marshall@AscentaFinance.com.

I’m Cassandra Bolinski for Investmentpitch Media