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New Listing: JNC Resources (CSE:JNC)

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JNC Resources, a North American mining exploration company, has an option to acquire a 100% interest in the Triple 9 Property, subject to a 2% NSR. The Triple 9 Property consists of two mineral claims covering approximately 717 hectares in the Kamloops mining division, British Columbia, six kilometres northwest of Sicamous, British Columbia.

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Additional Information:

Company: JNC Resources
Website: http://www.JNCresources.com
Stock Symbol: CSE: JNC
Date Published: Apr 21, 2020
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

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

JNC Resources, a North American mining exploration company, has an option to acquire a 100% interest in the Triple 9 Property, subject to a 2% NSR.

The Triple 9 Property consists of two mineral claims covering approximately 717 hectares in the
Kamloops mining division, British Columbia, six kilometres northwest of Sicamous, British Columbia.

The first recorded work on the Triple 9 property is reported in the BC Department of Mines Annual Report of 1900 which reported assays averaging 1.48 ounces per ton gold with values as high as 34.9 ounces per ton gold in a vein 50 feet wide and not less than 300 feet in length.

JNC Resources undertook a grid and roadside soil sampling program a stream sediment sampling and rock sampling program in May 2019 to investigate the mineral bearing potential of the Triple 9 property.

In addition to the ground geochemistry program the company employed a backpack diamond drill program over areas that hosted visible mineralization, with a total of 11 holes drilled in an attempt to test the mineralized areas for continuity.

The backpack drill is capable of drilling to depths of up to 6 meters although on this program the drilling only tested to depths of 1.83 meters.

The Backpack drill returned significant results from holes BD-1 and BD-2 drilled at the Bluenose showing, returning 6.37 grams per tonne silver and 0.32% copper over 1.22 meters and 7.94 grams per tonne silver and 0.24% copper over 1.83 meters, respectively.

Drill holes BD-4, BD-5 and BD-6 drilled at the Road zone returned 10.25 grams per tonne silver, 0.13% copper, 0.20% lead and 0.11% zinc over 0.305 meters, and 6.32 grams per tonne silver, 0.074% copper, 0.18% lead and 0.057% zinc over 0.61 meters and 8.47 grams per tonne silver, 0.14% copper, 0.32% lead and 0.12% zinc over 0.305 meters, respectively.

Michael Mulberry, President and CEO, stated: “The Company's goal is to engage in mineral exploration for the purpose of land acquisitions and further progress mining operations. We are very excited at the opportunity that is given to us at JNC. Our strong management team brings a wealth of experience in the mineral exploration and development process and we are looking forward to executing our model with JNC.”

To exercise its option, the company will be making a cash payment of $1,035,000 and issuing 2,050,000 shares in staged payments over 3 years.

The company recently raised gross proceeds of $303,300 from the sale of 3,033,000 shares priced at $0.10 per share.

Mackie Research Capital acted as agent for the IPO.

The shares are trading at $0.18.

For more information, please visit the company’s website www.JNCresources.com, contact Michael Mulberry, President and CEO, at 778-855-5001 or by email at info@JNCresources.com.

I’m Fiona Forbes for Investmentpitch Media