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.

Contacts:
Tawsho Mining Inc.
Mr. Stephen Balch
President & CEO
(905) 407-9586
[email protected]

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
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discussed how a new approach is neces...
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
What's the role of an IT self-service portal when you get to continuous delivery and Infrastructure as Code? This general session showed how to create the continuous delivery culture and eight accelerators for leading the change. Don Demcsak is a DevOps and Cloud Native Modernization Principal for Dell EMC based out of New Jersey. He is a former, long time, Microsoft Most Valuable Professional, specializing in building and architecting Application Delivery Pipelines for hybrid legacy, and cloud ...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We view the cloud not as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo (http://www.CloudComputingExpo.com), held June 7-9 at the Javits Center in New York City, NY.
The Founder of NostaLab and a member of the Google Health Advisory Board, John is a unique combination of strategic thinker, marketer and entrepreneur. His career was built on the "science of advertising" combining strategy, creativity and marketing for industry-leading results. Combined with his ability to communicate complicated scientific concepts in a way that consumers and scientists alike can appreciate, John is a sought-after speaker for conferences on the forefront of healthcare science,...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: implemen...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
In his session at Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, presented a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to maximize project result...
"DivvyCloud as a company set out to help customers automate solutions to the most common cloud problems," noted Jeremy Snyder, VP of Business Development at DivvyCloud, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...