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
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, will discuss how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technol...
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...