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New Listing: Hanstone Gold Corp (TSXV:HANS)

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The company has acquired the Doc Property, comprised of 10 mineral claims located in the Skeena Mining Division in British Columbia, from Milestone Infrastructure. The 1,704-hectare Doc Property is a gold-silver exploration project located in the Golden Triangle district in northwest British Columbia.

Additional Information:

Company: Hanstone Gold Corp.
Stock Symbol: TSXV: HANS
Date Published: Aug 24, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Hanstone Gold Corp is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “HANS”, following its qualifying transaction with Capital Pool Company Hanstone Capital.

The company has acquired the Doc Property, comprised of 10 mineral claims located in the
Skeena Mining Division in British Columbia, from Milestone Infrastructure.

The 1,704-hectare Doc Property is a gold-silver exploration project located in the Golden Triangle district in northwest British Columbia.

Hanstone issued 4.5 million shares and paid $150,000 in cash for pre-closing expenditures related to the Doc Property.

The company must also pay $1,775,000 over a 5 year period.

Hanstone also acquired a 100% interest in the Snip North property, comprised of five mineral claims located in British Columbia, approximately 50 kilometers north of the Doc Property, at a cost of 200,000 shares.

The company completed two private placements, raising gross proceeds of approximately $2.3 million from the placement of approximately 12.6 million units, priced at $0.18 per unit with each unit consisting of 1 share and 1 warrant with the warrant exercisable at $0.25 for 24 months.

The company also raised gross proceeds of approximately $731,000 from the placement of approximately 2.9 million flow-through units priced at $0.25 per unit, with each unit consisting of 1 flow-through share and 1 warrant, with the warrant exercisable at $0.35 for 24 months.

The property lies approximately 55 kilometres northwest of the community of Stewart BC and 32 kilometres south of the road accessible Eskay Creek mine site and is accessed by helicopter from a base at Stewart BC.

It is also about 10 kilometres north of the past producing Granduc copper-gold-silver mine.

The Doc Property has been shown to host numerous high-grade gold veins and to have the potential to host replacement style skarn and volcanogenic-massive sulphide mineralization.

Since acquiring the property in 2019, Milestone has spent over $150,000 including the collection of 154 rock samples and the completion of 30.5-line kilometres of magnetometer surveys during the Phase 1 program.

Phase 2 consisted of channel sampling at the BGS, Galena Ridge, Q19 and Quinn Eskay zones, as well as limited prospecting at the Florence Zone.

The NI 43-101 recommends at budget of $756,000 for Phase I, which includes 1,500 meters of drilling from 10 drill pads.

The shares are trading at $0.55.

For more information, please contact Karen Frisky, CFO, at 306-260-0234 or email at friskykaren@gmail.com.

I’m Megan Edwards for Investmentpitch Media