VANCOUVER, BC, CANADA – November 24, 2021 – Geologica Resource Corp. (the “Company”) intends to raise up to $120,000 from the sale of flow-through shares (the “Shares’).
The Shares will be issued at $0.10 per Share for a total of 1,200,000 Shares if the share issue is fully subscribed. The funds raised from the sale of the issuance of Shares are intended for exploration on the Topley Property as described below. These expenditures will exceed those required under the option agreement for the property.
| EXPLORATION BUDGET | |
| ITEM | ESTIMATED COST |
| Compiling of all historical data and reducing airborne mag data | $10,000 |
| SGH laboratory costs | $11,550 |
| MMI soil sampling | $35,000 |
| MMI laboratory costs | $18,000 |
| IP/resistivity Survey | $40,000 |
| Data reduction | $3,000 |
| Interpretation and reporting | $3,000 |
| TOTAL | $120,550 |
The Topley Property
The Topley property is located in central BC and is road accessible with power lines running through the property making the property very cost effective to explore. The region near Babine Lake is known for its large porphyry, copper/gold, and copper/molybdenum deposits including past producing copper mines, Granisle and Bell. Porphyries contain the largest reserves of Cu and close to 50% of Au reserves in BC. The Topley Property consists of 7 mineral claims totaling 2,669 Ha with known prospects and showings.
About Geologica Resource Corp.
Geologica Resource Corp. is a mineral explorer, building shareholder value through the acquisition of projects with significant technical merit. The Company has an option agreement for 100% of the mineral claims known as the Topley Project. The Company is a reporting issuer in British Columbia.
Further information on Geologica Resource Corp. formerly Cabbay Holdings Corp. can be found on SEDAR at
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00039876
For the Board of Directors
Douglas H. Unwin,
President & CEO
(604) 762-5355
doug.unwin@telus.net
FORWARD LOOKING STATEMENTS
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Readers should not place undue reliance on the Company’s forward-looking statements, as the Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-looking statements will materialize. The Company does not undertake to update any forward-looking information, except as, and to the extent required by, applicable securities laws.