Hemlo Explorers Completes Strategic Acquisition of Rocky Shore
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Hemlo Explorers Expands Its Portfolio with New Acquisition
Hemlo Explorers Inc. (CSE: HMLO) is thrilled to announce its recent acquisition of Rocky Shore Metals Ltd., completing the deal on September 4, 2024. As part of this transaction, Hemlo acquired all common shares of Rocky Shore in exchange for an impressive 49,999,704 shares of Hemlo. With this acquisition, Hemlo's total outstanding shares now stand at 100,724,624.
The enthusiastic approval from shareholders owning more than 50% of the outstanding Hemlo Shares allowed this transaction to move forward, setting the stage for exciting developments within the company.
Key Highlights of the Acquisition
This acquisition comes with numerous advantages that Hemlo is eager to exploit. Below are the highlights:
- Full Ownership of Gold Projects: Hemlo has now secured 100% ownership of six grassroots gold projects in a prime location, a Tier 1 jurisdiction known for mining.
- High-Grade Gold Potential: These properties were diligently staked due to their potential for generous high-grade gold mineralization found in complex geological interfaces.
- Gold Anchor Project: This flagship project features over 2,100 claims, covering a remarkable area of 533 square kilometers that has been little explored for gold. This potential district-scale asset is the crown jewel of the acquisition.
- Strategically Positioned: The Gold Anchor Project boasts approximately 50 kilometers of favorable metasediments situated between two significant crustal faults. This positioning holds the promise of major gold discoveries similar to those made by leading companies.
Leadership Insights on the Acquisition
Hemlo's President and CEO, Brian Howlett, expressed his excitement regarding this acquisition, stating, "We are extremely pleased to have acquired this exciting claim package, particularly the Gold Anchor Project. The combination of our Hemlo gold projects with Rocky Shore’s properties is expected to create significant value for our stakeholders."
Adding to that, Ken Lapierre has joined Hemlo as Vice President of Exploration following the deal's completion. With over forty years of expertise, he brings valuable insights into the precious and base metals sectors and is enthusiastic about advancing the Gold Anchor Project towards discovery.
Future Endeavors and Projects
Ken is delighted to join the team, emphasizing, "This is an excellent opportunity for us to advance the Gold Anchor Project, a uniquely situated property in a promising gold district. We're excited to ramp up our summer field program at Gold Anchor.”
Company Overview and Vision
Hemlo Explorers is a Canadian mineral exploration company focused on maximizing shareholder value by advancing its extensive portfolio of properties located in Ontario, Newfoundland, and Nunavut. The company's projects include the prominent Project Idaho, the Pic Project in partnership with Barrick Gold Inc., and the North Limb Project. The recent acquisition of the Gold Anchor Project is poised to further bolster Hemlo's commitment to growth and successful exploration.
For further inquiries or detailed information:
Brian Howlett,
President & CEO,
Hemlo Explorers Inc.
brian@hemloexplorers.ca
1-647-227-3035
http://www.hemloexplorers.ca
Frequently Asked Questions
What is the significance of the Rocky Shore acquisition for Hemlo?
The acquisition enhances Hemlo's portfolio, specifically providing ownership over the promising Gold Anchor Project, which is expected to add substantial value.
What projects are included in the acquisition?
The acquisition includes six grassroots gold projects, with the Gold Anchor Project as the flagship initiative.
Who is leading exploration efforts at Hemlo?
Ken Lapierre has recently been appointed as Vice President of Exploration, bringing over forty years of industry experience to lead the exploration efforts.
How does this acquisition impact Hemlo's share structure?
As a result of this acquisition, Hemlo's outstanding shares increased to 100,724,624 shares, offering heightened potential for value realization.
Where can I find more information about Hemlo and its projects?
Further details can be found on Hemlo Explorers’ official website or by contacting their President and CEO, Brian Howlett.
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