February 10, 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 received Notice of Intent permits from the Bureau of Land Management (“BLM”) for drilling at the North and South zones of its Mercury One property (the “Mercury One Property”) in Nevada. Infield is required to submit a financial guarantee to the BLM for the reclamation bond prior to commencement of drilling activities. The Phase 1 drilling campaign is expected to commence this quarter
with approximately 2,000 metres of reverse circulation (“RC”) drilling planned to test the South zone targets.
The Mercury One Property is a low-sulphidation epithermal gold-silver project located in the Schell Creek Range, White Pine County, Nevada. Gold and silver mineralization at the Mercury One Property is associated with silicified breccia zones along and proximal to regional and local fault structures. On June 30, 2020, Infield entered into a property option agreement with Mercury Exploration Nevada Inc. to acquire 100% interest in the Mercury One Property over a three-year term.
2020 Exploration Summary
During the fall of 2020, Infield increased the size of the Mercury One Property land package by approximately 38% through ground staking of 68 lode mining claims, bringing the Mercury One Property total to 250 claims covering 2,090 hectares. Additionally, Infield carried out field reconnaissance and sampling at the Mercury One Property, followed by ground geophysical surveying. TMC Geophysics was engaged by Infield in October 2020 for the geophysical surveys, completing a total of 35.5 line-kilometres of Induced Polarization (“IP”) readings over two separate survey grids at the North and South zones (Figure 1). The area covered by the South zone IP grid will be the focus of Infield’s upcoming Phase 1 drilling campaign.
2021 Phase 1 Drilling Campaign
Infield has retained the services of Major Drilling for approximately 2,000 metres of RC drilling planned for this quarter. Five drill sites have been permitted in the South zone of the Mercury One Property and five drill holes varying from 250 meters to 450 meters in length have been proposed to test initial targets during Phase 1 (Figure 2). The outlined drill program will prioritize targets with coincident IP anomalies, altered and brecciated rocks mapped on surface, and anomalous gold and silver values interpreted to be associated with silicified fault structures. These drill targets have never been previously tested and present a compelling opportunity for discovery.
“Since launching last year with a strong portfolio of gold-silver properties in Nevada, Infield has made significant strides forward; becoming established in a new jurisdiction, building an exceptional team including experienced Nevada consultants, and advancing the Mercury One Property through to a drill ready status. We are extremely pleased to have this opportunity to drill test these exciting targets outlined for Infield’s very first drilling campaign,” stated Infield’s President and CEO, Evandra Nakano.
(1)Historical drilling assay results were obtained from an independent third party. The laboratories, analytical methods and accuracy could not be verified by Infield.
(2)Selected rock samples collected by Mercury Exploration Nevada Inc. (independent of Infield) in 2018-2019 were prepared and analysed at American Assay Laboratories in Sparks, NV for fire assays (FA-PB30-ICP) and multi-element geochemical analysis (2AM50). 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 Corp. and a Qualified Person for the purposes of National Instrument 43-101.
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: firstname.lastname@example.org.
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 the Mercury One Property. 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.