MONTREAL, Dec. 05, 2017 (GLOBE NEWSWIRE) -- OneCap Investment Corporation ("OneCap or the “Corporation") (TSX VENTURE:OIC) is pleased to provide the results of its regional exploration program in the Bolivar South Province, Northeastern Colombia.
In 2017, OneCap has initiated a regional sampling program of the artisanal production sites in South Bolivar in order to evaluate the gold potential within 40 kilometres of the Corporation’s Las Marias gold property and identify concessions for possible acquisitions.
A total of 60 easily accessible artisanal mining sites were visited, documented and sampled. The program was performed in two phases. The first one consisted of the purchase of mineralized material weighting an average of approximately 30 kg from 19 different operations. For the second phase, the Corporation’s geologists collected rock samples from 41 other producing sites averaging 4.6 kg each. Mineral samples collected during these campaigns were sent for analysis to Actlabs laboratories in Colombia and Canada.
The assay results from the two phases are as follow:
| Number of sites | ||
| g/t Au | Phase 1 | Phase II |
| 0 to 9.99 | 11 | 14 |
| 10 to 19.99 | 3 | 12 |
| 20 to 29.99 | 2 | 5 |
| 30 to 110 | 3 | 10 |
| Total | 19 | 41 |
Following the encouraging results from this initial regional sampling program, management of the Corporation plans to travel to Colombia in the coming weeks to pursue discussions with concession owners for possible acquisitions.
Furthermore, composite mineralized rock samples were sent to Actlabs facility in Thunder Bay, Ontario, for metallurgical testing and are under the supervision and guidance of Bumigeme, an independent mineral consulting firm in Montreal. This study will assist management to evaluate the economics of operating a regional gold milling and processing facility in the Bolivar South province.
Quality Control
A Quality Assurance / Quality Control (“QA/QC”) program managed by LACC Mineral de Medellin was followed by integrating duplicates, blanks and standards to samples. The processed samples were subjected to a standard Fire Assay with AA technique (Au-AA-23) and Inductively Coupled Plasma Emission Spectroscopy (ME-ICP-41) on a 30 gram sub-sample by Actlabs in Medellin and Ancaster in Canada.
Qualified Person
This news release has been reviewed and approved by Daniel Goffaux, P.Eng., a Qualified Person as defined by National Instrument 43-101.
About OneCap
OneCap is a mineral exploration company with its exploration activity focused in Colombia. It has an option to earn a 100% interest in the Las Marias gold property, subject to cash payments and exploration expenditures over a 5-year period ending in 2021.
Rejean Gosselin, President and CEO : Tel: 514.303.0950
E-mail: rgminero@gmail.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although OneCap deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.