Khalkos Exploration: Corporation Mission Shifts Towards More Advanced Projects
May 22, 2013 — MONTREAL, QUEBEC (Source: Marketwired) — The Board of Directors of KHALKOS EXPLORATION INC. (“Khalkos”) (TSX VENTURE:KAS) is proceeding with important changes in regards the Company’s business plan and strategic direction. Under the direction of the new President, the Company will realign its exploration activities to focus mainly on the research and development of high grade narrow-vein gold deposits in Abitibi. The Company is also evaluating the possibility of acquiring a mobile modular processing unit made in Quebec with a 50 to 100-ton per day capacity. The new business plan will allow the Company to position itself in an underdeveloped niche in Quebec. The Directors are confident that, with the development of its Villebon project, the Company will be capable of starting a modest yet affordable and low-cost gold production with a development plan over three years. For the first year, the plan will include stripping, a bulk sampling program, the start of permitting requests, metallurgical tests, and the validation of the historical data. For the second year, the Company plans on meeting and consulting with stakeholders followed by the construction, installation and running of the mobile unit. Production is expected in the third year, followed by the rehabilitation and restoration of the site.
Following the changes in the business plan, the Board of Directors will suggest to shareholders to change of the name of the Company in its upcoming Information Circular for the next Annual Shareholders’ Meeting. The purpose of the name change is so to better reflect the Company’s new mission of mining small and medium size gold deposits. The development of several small-scale deposits will allow the Company to reach its goal, which is to produce ounces of gold over the medium-term in an economically, ecologically and socially profitable manner.
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RESIGNATION OF A DIRECTOR
Khalkos also announces the recent resignation of Mr. Gilles Dupuis from the Board of Directors. The Board of Directors would like to kindly thank Mr. Dupuis for his invaluable contribution to the development of Khalkos.
This press release was prepared by Robert Gagnon, geologist, President of Khalkos, Qualified Person pursuant to National Instrument 43-101.
Statements in the release that are “forward-looking statements” are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.
Neither the 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>