Homestake Resource Corporation (TSXV:HSR,FWB:B6IH) addressed and clarified Technical Disclosure issues as identified by the British Columbia Securities Commission (BCSC) as being non-compliant to NI43-101.
As quoted in the press release:
In its Corporate Presentation and website the Company disclosed an exploration target for its Illiance River project which included a potential target size (5 million tonnes to 10 million tonnes) without providing the appropriate cautionary language that the target is conceptual and that there has been insufficient exploration to define a mineral resource on the project as per section 2.3 (2) of NI 43-101.
The Company clarifies that the potential quantity and grade of the target is conceptual in nature and that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration would result in the identification of a mineral resource.
When identifying the target size, the strike-length of the surface mineralization (+2.0km), the grade and thickness of mineralized intercepts from drilling (+5m cumulative thickness) within this strike-length and the spacing of the drill holes were all considered.