TORONTO, ONTARIO--(Marketwired - Oct. 15, 2013) - Black Widow Resources Inc. ("Black Widow" or the "Company") (TSX VENTURE:BWR) today announces that it has received a National Instrument 43-101 report on its' Shunsby property located approximately 145 kilometers southwest of Timmins, Ontario in Cunningham Township. The recently received report is entitled "Technical Report on the Shunsby Base Metal Property, Cunningham Township, Ontario, for Black Widow Resources Inc." by Paul Sobie, P.Geo. of MPH Consulting Ltd., of Toronto Ontario dated September 30, 2013, hereinafter referred to as the "Shunsby Report". This report will be filed on the sedar.ca in a timely manner as well as the Company's website www.blackwidowresources.com.
The Shunsby Property consists of 20 contiguous patent claims comprising 314.43 hectares, optioned from Hage Corporate Services Inc. ("Hage") whereby Black Widow can acquire 59.8% direct interest in the property by making payments totaling $500,000. The first two payments through the issuance of shares have been made totaling $350,000, a third and final payment of $150,000 is due on April 4, 2014. Hage is a non-arms length agent for two directors of Black Widow; Messrs. Duguay and Ringler as disclosed in the company's filing statements. It is contemplated that the final $150,000 payment for the Shunsby property, due in April 2014, will be satisfied by issuing additional shares.
- Mr. Neil Novak, President and CEO of Black Widow Resources, Inc.
"Our Board of Directors and Management team at Black Widow are excited about the exploration potential of the Shunsby property, the project has great year round access, much work has been done in the past on this base metal prospect, all of which is being used to plan Black Widow's exploration program, expected to commence in 2014."
The Shunsby Property, as outlined in the report, has seen much exploration work covering the period 1904 to as recent as 1994, over 90 years of exploration records have been viewed. These records include 214 diamond drill holes totaling in excess of 23 kilometers of drilling. The results of this enormous amount of drilling has now been digitized and entered into a property wide database. The drill results are itemized as periods of exploration in the Shunsby Report, some of which will eventually be twinned by Black Widow holes so as to determine their relevance in incorporating in a resource evaluation.
In the 1990's the work also included numerous surface trenches exposing stratigraphic sections across two main sulphide horizons as overseen by MPH Consulting Limited, under the direct auspices of the author of the current Shunsby report. The results of the historical geological mapping, diamond drilling, geophysics, and surface trenching by earlier operators, collectively suggest that numerous sulphide pods that were previously interpreted as stratabound massive sulphides (of limited size potential), were more likely local concentrations of sulphide within hydrothermal stringer type structures, typically found stratigraphically below a volcanic hosted massive sulphide ("VMS") deposit. The 1990 interpretation also noted that the top of the volcanic pile was actually reversed with respect to the original interpretation, much room now exists for exploration further up in the VMS system where massive sulphides typically accumulate.
As outlined in the Shunsby Report, historical trench highlights for the Main Zone were as high as 3.53 % copper, 0.52% zinc, 0.02% lead and 0.54 ounces per ton silver over 5 meters. Historical trench highlights for the South Zone were as high as 10.77% zinc, 2.75% lead, and 0.75% copper and 0.35 ounces per ton silver over 4.8 meters. Paul Sobie, the author of the Shunsby Report completed chip sampling over the Main Zone during his site visit in June, with assay results of 3.82% copper and 1.76% zinc, he considers these results consistent with the 1990-91 trench sampling program as also overseen by MPH Consulting Ltd.
Independent Qualified Person
Mr. Paul Sobie, P.Geo., President of MPH Consulting Limited, being an Independent Qualified Person ("IQP") as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and Form 43-101F1 Technical Report and Related Consequential Amendments, has reviewed and approved the technical content of this press release and was responsible for the collection of the samples referred to in this press release.
About Black Widow Resources
Black Widow is a newly listed public company, quoted for trading on the TSX.V under the symbol "BWR", with exploration projects in Northern Ontario, Canada, focused on exploring for base and precious metals. Management of Black Widow includes an accomplished group of exploration/mining, administrative and legal specialists with many decades of operational experience in the junior resource sector. There are currently 21,178,000 shares issued in Black Widow.
Neither the Toronto 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.
For more information about Black Widow please visit our website: www.blackwidowresources.com.