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New Listing: Mansa Exploration (CSE:MANS)

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The company has an exclusive option to acquire a 100% undivided interest in the Skyfire Property, subject to a 2% NSR. The property is centered approximately 95 kilometres east-northeast of the town of Williams Lake and 86 kilometres northeast of the town of 100 Mile House, in central British Columbia, in the Cariboo Mining Division.

Additional Information:

Company: Mansa Exploration
Stock Symbol: CSE:MANS
Date Published: Dec 21, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Mansa Exploration is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “MANS”.

The company recently closed its IPO, raising gross proceeds of $652,000 from the placement of 6,525,000 shares priced at $0.10 per share.

Mackie Research acted as agent for the offering.

The company has an exclusive option to acquire a 100% undivided interest in the Skyfire Property, subject to a 2% NSR.

Under the terms of the option agreement, Mansa must incur exploration expenditures totalling $1,250,000, in stages by December 31, 2022.

As of the date of the prospectus, Mansa has incurred approximately $160,500 of exploration expenditures.

The property is centered approximately 95 kilometres east-northeast of the town of Williams Lake and 86 kilometres northeast of the town of 100 Mile House, in central British Columbia, in the Cariboo Mining Division.

The 1,897 hectare property, which covers a northwest trending ridge bounded by McKusky Creek and the Horsefly River, is accessible via all weather forest service roads that connect to the towns of Horsefly and 100 Mile House.

Several operators have worked on the property, with the first reports dated 1983.

Previous geochemical work included a soil sampling program in the summer of 2006 by Dajin Resources, which identified three anomalous gold trends.

A stream sampling program also found gold on several streams draining the relatively steep slopes on the claims.

In 2018, Ridgeline Exploration Services was contracted by Mansa to complete an exploration program consisting of rock sampling and trenching targeting silver and gold mineralized quartz veins.

From the seven rock samples collected, the two samples from hand excavation exposed a roughly one-meter section of quartz vein at the Skyfire showing, returned 262 grams per tonne silver and 0.27 grams per tonne gold in sample 001R and 552 grams per tonne silver and 0.47 grams per tonne gold in sample 002R.

The May 2020 Technical Report, which is available on Sedar, recommends a two-stage exploration program, with Stage 1 consisting of soil and till sampling, geological mapping, shallow trench prospecting and a VLFEM/Magnetometer ground survey.

Contingent on the results, Stage 2 would consist of bedrock sampling using a truck mounted reverse circulation drill capable of drilling through the overburden.

The shares are currently bid a $0.10, with no shares offered and no trades.

For more information, please contact Trumbull Fisher, President and CEO, at 416-917-5847.

I’m Megan Edwards for Investmentpitch Media