January 5, 2021 – Vancouver, BC, Canada. ECC Ventures 2 Corp. (“ECC2” or the “Company”) (TSXV: ETWO.P) is pleased to announce that its Qualifying Transaction (“QT”) target, Infield Minerals Corp. (“Infield”), has acquired the Desperado property (“Desperado”) in Nevada through ground staking of 172 lode mining claims. Infield identified, investigated, and acquired the prospective open ground in Q4 2020. Desperado is 100% owned by Infield and is not subject to any royalties.
Highlights from the 2020 evaluation program include:
• High grade gold and silver rock grab samples up to 4.99 g/t gold and 50 g/t silver • Several historical workings throughout the property
• Large clay alteration areas associated with mineralization and historical workings
Desperado is located in Nye County within the Ellendale mining district, approximately 40 kilometres east of the town of Tonopah, 8 kilometres east of Infield’s Bandit property and 2 kilometres south of Highway 6 (Figure 1). Desperado is readily accessed by a series of local dirt roads. It covers an area of 1,410 hectares (3,480 acres) surrounding the historical Ellendale mine property owned by a third party and lies at an altitude of 1,830 metres (6,000 feet) in the foothills at the southern end of the Monitor Range overlooking the Ralston Valley to the southwest.
The Ellendale mining district was discovered in 1909 by Ellen Clifford Nay when she found high-grade gold in a large rock float. Most of the work in the area was conducted between 1909 and 1915 and is noted by several abandoned adits, shafts and trenches. The district remains underexplored with no indication of modern exploration work having been conducted within the property area during at least the past 30 years.
Most of the historical workings are found in rhyolite near the contact with andesite porphyry. The rhyolite is fine grained and rather siliceous and carries small phenocrysts of quartz and feldspar. Based on field observations, epithermal-style gold and silver mineralization appears to be associated with silicified sericitized rhyolite breccia and quartz veins proximal to the rhyolite–andesite contact. The USGS Mineral Resource Data System reports four mineralized prospects on the property that correspond to historical workings, though several additional workings have been identified that were not reported by the USGS. The historical workings and mineralization are associated with large areas of clay alteration, and recent rock grab samples taken by Infield during reconnaissance activities in 2020 returned 4.99 g/t gold and 50 g/t silver, and 2.15 g/t gold and 6 g/t silver (Figure 2).
(1)Lincoln, F.C. (1923) “Mining Districts and Mineral Resources of Nevada”; (2)USGS MRDS Deposit ID 10310392; (3)Goldfield Historical Society
(4)Rock samples collected by Infield in 2020 that were prepared and analysed by American Assay Laboratories in Sparks, NV for fire assays (FA-PB30-ICP) and multi-element geochemical analysis (ICP-2A036).
Desperado Exploration Plans for 2021
Infield plans to carry out an extensive surface mapping and sampling program, as well as ground geophysical surveys, with the intent to advance the Desperado property to a drill ready status.
The rock samples collected by Infield in 2020 were prepared and analysed by American Assay Laboratories in Sparks, Nevada. Gold was analysed using Au-FA30/ICP and multi-element analysis was conducted using ICP-2A036 (50 elements). The samples were transported directly to AAL in Sparks by the geologist from C&M Consulting who carried out the field evaluation on behalf of Infield. American Assay Laboratories is an independent geochemical analytical testing laboratory which has been ISO-17025 accredited by IAS.
Technical information in this news release has been reviewed and approved by Richard Dufresne, P.Geo., Vice-President Exploration for Infield Minerals Corporation and a Qualified Person for the purposes of National Instrument 43-101. The information on the Ellendale Mining District and its geology was obtained from the Nevada Bureau of Mines and Geology District files, the USGS and other published documents.
The potential quantity and grade of mineralization described herein is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in targets being delineated as a mineral resource.
Trading of ECC2’s common shares will remain suspended until completion of the QT.
For more information please contact Scott Ackerman, the CEO, CFO and a Director of the Company, at 778-331-8505 or email: email@example.com.
On Behalf of the Board of Directors of ECC Ventures 2 Corp.
Completion of the QT is subject to a number of conditions, including, among others, TSX Venture Exchange (“TSXV”) acceptance and if applicable pursuant to TSXV Requirements, majority of the minority shareholder approval. Where applicable, the QT cannot close until the required approvals are obtained. There can be no assurance that the Acquisition will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection with the QT, any information released or received with respect to the QT may not be accurate or complete and should not be relied upon. Trading in the securities of ECC2 should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed Acquisition and has neither approved nor disapproved the contents of this news release.
Neither 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 release.
Statements included in this announcement, including statements concerning our and Infield’s plans, intentions and expectations, which are not historical in nature, are intended to be, and are hereby identified as, “forward‐looking statements”. Forward-looking statements include, among other matters, the exploration plans for Desperado, the terms and timing of QT, the growth plans of Infield and statements concerning the Company following the QT. Forward‐looking statements may be, but are not always, identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company's and Infield’s future operations and business prospects, are subject to certain risks and uncertainties (including risks that the QT does not proceed, or proceed on the expected terms, geopolitical risk, regulatory, Covid-19 and exchange rate risk) that could cause actual results to differ materially from those indicated in the forward‐looking statements. There can be no assurance that any forward-looking statement will prove to be accurate or that management's assumptions underlying such statements, including assumptions concerning the Acquisition or future developments, circumstances or results will materialize. The forward-looking statements included in this news release are made as of the date of this new release and the Company does not undertake to update or revise any forward-looking information included herein, except in accordance with applicable securities laws.