VANCOUVER, British Columbia, May 14, 2019 (GLOBE NEWSWIRE) -- Deer Horn Capital Inc. (CSE: DHC, OTCBB: GODYF) (or “Deer Horn”) reports that its First Nations partner Cheona Metals Inc. (49% Deer Horn, 51% Cheona—formerly “Newco” as announced in Deer Horn’s April 10 news release) has concluded an agreement with a major, US-based environmental and social NGO to target historical placer gold mine sites for re-mining and restoration of fish habitat using sustainable techniques in British Columbia and Yukon Territory. This region of Canada is renowned for its globally significant habitat for salmon and other anadromous fish species.
Deer Horn, Cheona Metals and the NGO will work with First Nations, miners, communities, conservationists, agencies, restoration experts and others to produce gold that tells a positive story in the marketplace and demonstrates the value of restoration.
“We will provide more details on this landmark agreement when we have clearance to do so,” said Deer Horn President and CEO Tyrone Docherty. “However, with the agreement in place and funds advanced to Cheona to begin the process of identifying potential sources of placer gold, we are able, and obligated, to announce preliminary information.”
Gold produced from the re-mining and restoration operations will then enter the electronics and jewelry supply chains. This sourcing initiative is part of a larger, multi-agency effort to facilitate increased responsible sourcing from smaller mines while contributing to improved social and environmental performance of the small-scale mining sectors.
“We applaud this support for sustainable, small-scale mining,” said Docherty. “The agreement also aligns perfectly with our mission to build a new revenue model for the junior resource industry by partnering with industry and NGO leaders in critical and strategic metals extraction, manufacturing, supply and research as well as with relevant governmental and educational institutions. It goes a long way towards furthering our vision of helping companies and organizations find solutions for a more sustainable future.”
Further details will be released soon.
About Deer Horn Capital
Deer Horn Capital is committed to exploring for, and providing, strategic and critical metals vital to a low-carbon economy and for the advancement of technology. The Company’s leadership has a track record of project monetization with a board and advisory group that includes industry leaders in finance, mineral property development, geology, mineralogy, solar power, engineering, research and First Nations engagement and economic development.
| On behalf of the board of directors of Deer Horn Capital Inc. “Tyrone Docherty” Tyrone Docherty President and CEO | For further information please contact: Tyrone Docherty 604.789.5653 tyrone@deerhorncapital.ca |
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forward-looking information
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