Welcome!

News Feed Item

Tawsho Mining Inc. Exploration Update and Financing

TORONTO, ONTARIO -- (Marketwired) -- 04/04/14 -- Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or the "Corporation") is pleased to provide exploration updates for its Cabot Graphite Property and Chevrier Gold Property.

To advance the Cabot Graphite Property, Tawsho has initiated a sampling and assaying program to complete the sampling program of the previous drill program (results announced November 12th 2013). During that program graphite content was unknown and sampling intervals were based on visual estimates of graphite. However, the subsequent assay results proved that visual estimates of graphite are difficult and that many of the unsampled intervals could contain significant graphite. This sampling program, currently underway, could improve both the grade and interval length of the previously announced composites. The program will take a few weeks to complete with assays and updated composites expected sometime in May 2014.

Also on the Cabot Graphite Property, Tawsho will acquire enough graphite material to submit for metallurgical testing in order to determine the grade, purity and flake size of the graphite.

On the Chevrier Gold Property, Tawsho has completed its recompilation of historic drilling that includes almost 100 drill holes through the mineralized zones known as the Main Zone and the South Zone. A reanalysis of this information suggests the two zones are in fact one continuous zone with an approximate strike length of 2.7 km. A new mineralized zone was also identified based on three adjacent drill holes, namely GFA-126 which intersected 5.44 gpt Au over 6.87 m (131.18 - 138.05 m down hole), GFA-131 which intersected 7.14 gpt Au over 1.90 m (232.00 - 233.90 m) and GFA-133 which intersected 4.67 gpt Au over 3.25 m (539.35 - 542.60 m). This new zone, the "East Zone" is open in all directions.

Tawsho is also pleased to announce a non-brokered private placement offering of units and flow-through units to arm's-length and non-arm's-length parties (the "Offering"). As of this date, it is anticipated that insiders of the Corporation may subscribe for more than 25% of the Offering.

Tawsho intends to issue up to 1,555,556 flow-through units ("FT units") at a price of $0.09 per FT unit, for gross proceeds of up to $140,000 and 750,000 hard dollar units ("HD units") at a price of $0.08 per HD unit, for gross proceeds of $60,000. The total gross proceeds for both components of the financing is expected to be $200,000.

Each FT unit will consist of one flow-through common share and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one non-flow-through common share of Tawsho at a price of $0.12 per share for a period of two years from the date of issuance. Each HD unit will consist of one common share and Warrant.

Tawsho also intends to provide for an overallotment of both FT units and HD units. A total of 777,778 FT units will be reserved for overallotment and 375,000 HD units will be reserved for overallotment. The maximum total gross proceeds, assuming full subscription of the overallotments, will be $300,000.

The Offering is subject to the acceptance of the TSX Venture Exchange. The Corporation may pay finder's fees in cash and/or securities of the Corporation in respect of the Offering. All securities issued to purchasers and finders under the Offering will be subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange. The proceeds of the Offering will be used for the exploration and development of Tawsho's graphite Property in Newfoundland, the Chevrier gold Property in Quebec, and for general working capital.

Stephen Balch (P.Geo.), President & CEO of Tawsho Mining Inc., is a Qualified Person under the definition of National Instrument 43-101 and has reviewed and approved the technical content in this press release. The gold grades referenced in this press release are historic in nature and were reported by Geonova Explorations Inc. from their exploration program during the period 1989-1997.

ABOUT TAWSHO MINING INC.

Tawsho is a mining exploration company focused on the acquisition, exploration and development of gold resources and advanced stage gold exploration Properties. The Corporation is presently developing its Cabot Graphite Property (comprised of 102 claims covering and area of 2,550Ha or 25.5sq. km) both located in Baie Verte Peninsula, Newfoundland and its Chevrier Gold Property (comprised of 557 claims, covering an area of 9542 hectares, or 95.4 sq. km) located in the Chibougamau region of Quebec. Tawsho currently has approximately 25,251,849 common shares issued and outstanding.

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

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Application transformation and DevOps practices are two sides of the same coin. Enterprises that want to capture value faster, need to deliver value faster – time value of money principle. To do that enterprises need to build cloud-native apps as microservices by empowering teams to build, ship, and run in production. In his session at @DevOpsSummit at 19th Cloud Expo, Neil Gehani, senior product manager at HPE, discussed what every business should plan for how to structure their teams to delive...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web ...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.