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Longhorn Exploration is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “LEX”, following its initial public offering

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Longhorn Exploration (TSXV:LEX) is one of the latest new listings on the TSX Venture Exchange, following its initial public offering. The company is targeting an epithermal gold deposit in British Columbia.

Additional Information:

Company: Longhorn Exploration
Stock Symbol: TSXV:LEX
Date Published: May 12, 2022
Transcript: Available

Video Transcript:

Longhorn Exploration (TSXV:LEX) is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “LEX”, following its initial public offering.

The company raised gross proceeds of $629,600 from the placement of 2,148,000 common shares priced at $0.25 per share and 800,000 flow-through shares priced at $0.25.

Haywood Securities acted as exclusive agent for the offering.

The shares are trading at $0.17.

The company has an option to acquire a 100% interest in the Fame Property, subject to a 2% NSR, which is located in south-central British Columbia, approximately 82 kilometres southwest of the City of Williams Lake, BC, and about 50 km southeast of the community of Hanceville.

The property consists of eleven mineral claims comprising a total of approximately 3,200 hectares in the Clinton Mining Division.

In order to exercise its option, the company must pay $300,000, issue 3 million shares and incur a minimum of $2 million dollars in exploration expenditures, scheduled over 36 months.

The company is targeting an epithermal gold deposit.

Backhoe trenching by Canamax in 1988, and Appleton in 2007, outlined quartz veining, and kaolinite alteration of host volcanic rocks in several trenches in the Discovery, Kelsch and Double Diamond showings.

At the Discovery Zone, Canamax collected thirty rock chip samples from a trenching program in 1988, with the best rock chip results include 2 metres of 3,400 ppb gold; 1.7 metres of 3,920 ppb gold; 6 metres of 937 ppb gold; and 300 metres of 1,543 ppb gold, in four different trenches.

At the Kelsch Showing, located approximately 900 metres northeast of the Discovery Zone, two grab samples collected in 2007 by Appleton returned values of 845 and 1650 ppb gold.

Gold mineralisation outlined in 2014 appears to be within two lineaments A.

Within this region, near the previous gold zones (Discover, Double Diamond, and Kelsch) two subparallel lineaments appear to be trending southwestward, one of which seems to intersect the gold zones.

The company has budgeted $200,000 for an initial work program.

For more information, please contact Anthony Zelen, CEO, at 778-388-5258 or email AnthonyZelen@gmail.com.