High Tide Resources Corp, majority controlled by Avidian, opts for the Clearcut Lithium project in Quebec

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TORONTO, ON/ACCESSWIRE/July 19, 2022/Avidian Gold Corp., (“Avidian“or the”Company“) (TSX-V:AVG)(OTCQB:AVGDF) is pleased to announce that High Tide Resources Corp (CSE:HTRC) has entered into an option purchase agreement to acquire a 100% interest in the project Clearcut Lithium (the “Property“) located in the emerging Cadillac-Pontiac lithium camp in the Abitibi Témiscamingue region southwest of Val d’Or, Quebec (Figure 1). Avidian owns approximately 33% of High Tide Resources and, through With this acquisition, Avidian shareholders gained indirect ownership and exposure to the high-demand lithium market for the electric vehicle battery industry.

Steve Roebuck, President and CEO of Avidian, says“Adding the Clearcut Lithium project to High Tide’s portfolio of projects is a low-risk, potentially high-reward opportunity that further enhances Avidian’s shareholder value proposition. Lithium is in high demand, making from Clearcut a natural complement alongside High Tide’s Lac Pegma Copper-Nickel-Cobalt Project which further diversifies High Tide’s battery metal projects with its flagship Labrador West Iron project.

Further details on this acquisition by High Tide can be found in their July 14, 2022 press release.

About Avidian Gold Corp.

Avidian brings together a disciplined and seasoned team of project managers focused on late-stage gold exploration projects in Alaska and Nevada. The Company’s district-wide Golden Zone property contains a NI 43-101 indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t Au) plus an inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au) in the Breach pipe deposit. This resource is exposed at surface and has been pit constrained for an open pit scenario. The technical report was filed on November 17, 2017 and was written by Leon McGarry, B.Sc., P.Geo. and Ian D. Trinder, M.Sc., P.Geo. Other projects include the Amanita and Amanita NE gold properties, both adjacent to Kinross Gold’s Fort Knox gold mine in Alaska, and the Jungo gold-copper property in Nevada.

Further details about the company and individual projects, including NI 43-101 technical reports on the Golden Zone property, are available on the company’s website at www.avidiangold.com.

About High Tide Resources Corp

High Tide is focused and committed to developing late-stage mining projects in Canada using industry best practices combined with strong social license from local communities. High Tide holds a 100% interest in the Labrador West Iron project located adjacent to the Carol Lake mine in Labrador City, Newfoundland and holds a 100% interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometers southeast of Fermont, Quebec. Majority shareholder and parent company Avidian Gold (TSX.V:AVG & OTCQB:AVGDF) controls approximately 33% of High Tide’s outstanding shares.

Further details about the Company, including an NI 43-101 Technical Report on the Labrador West Iron Property, are available on the Company’s website at www.hightideresources.com.

Qualified person

The technical information contained in this press release has been approved by Steve Roebuck, P.Geo., President and Chief Executive Officer of Avidian, who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects”.

For more information, please contact:

Steve Roebuck
Chairman and Chief Executive Officer, Director
Mobile: (905) 741-5458
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-looking information

This press release contains certain “forward-looking statements” that do not consist of historical facts, including statements regarding product usage. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words that indicate that the Company or management expects a stated condition or result to occur. Forward-looking statements can be identified by words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will” or “plans”. Because forward-looking statements are based on assumptions and address future events and conditions, they, by their very nature, involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company does not guarantee that actual results will meet management’s expectations. The risks, uncertainties and other factors involved in forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, mineral resource estimate , exploration and mine development plans, timing of commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to anticipate and counter the effects of the COVID-19 pandemic on the Company’s business, including but not limited to the effects of COVID -19 on capital markets, commodity price supply chain disruptions, restrictions on labor and workplace presence and local and international travel, failure to obtain required approvals with respect to the foregoing, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, failure to complete a feasibility study that recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failure to obtain governmental, environmental or other approvals required for the project, political risks, inability to meet the obligation to accommodate First Nations and other Indigenous peoples, uncertainties relating to the availability and costs of financing required in the future, variations stock markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in project development, capital and operating costs that vary significantly from estimates and other risks related to the mineral exploration and development industry, and the risks disclosed in the Company’s public filings on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information contained in this press release are reasonable, undue reliance should not be placed on such information, which speaks only as of the date of this press release, and no assurance can be given that such events will occur within the time frames disclosed or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Figure 1: Location map of the Clearcut Lithium project

Avidian Gold Corp., Tuesday, July 19, 2022, press release image

THE SOURCE: Avidian Gold Corp.

See the source version on accesswire.com:
https://www.accesswire.com/708972/Avidians-Majority-Controlled-High-Tide-Resources-Corp-Options-Clearcut-Lithium-Project-in-Quebec

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