Trillium Gold Mines Inc. (TSXV:TGM | OTCQX:TGLDF | FRA:0702)
Trillium Gold Mines Inc. has more exciting news for investors. It’s extending its reach into another high-grade gold mineralization zone. Trillium Gold has signed an agreement to acquire 15,000 hectares in the Confederation Greenstone Belt.
Extending Its Search for High-Grade Gold
This new area will beautifully complement and extend its existing land package. The Confederation Greenstone Belt is structurally and geologically similar to Great Bear’s LT Fault Zone. It also encompasses an area similar in terrain to the LP Gold Zone as well as rock formations comparable to Newmont’s (NYSE: NEM) Éléonore Mine.
Trillium Gold is buying the land from Pistol Bay Mining Inc. (CVE: PST) and will own the 15,000-hectare package 100% outright. This new purchase is costing Trillium Gold $500,000 in cash plus $1,250,000 of Trillium Gold Shares.
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Following in Great Bear’s Footsteps
Great Bear Resources Ltd (CVE: GBR) is a prominent Canadian metal exploration company. Last year it made the exciting discovery that significant gold mineralization could be associated with the felsic volcanic rocks in the Red Lake Gold camp, where the Confederation Greenstone Belt is situated. This discovery greatly enhanced the possibilities of a weighty gold find in the area. Extending its exploration efforts, led it to hit more high-grade gold intercepts on the LP Fault Gold Zone at its Dixie Project.
With this in mind, it thrills Trillium Gold to have acquired these new Confederation Lake properties. That’s because it believes they have a similar structure and geological characteristics to this Fault Zone Great Bear has recently struck it lucky on.
“The possibility for these newly acquired claims to have the potential of hosting economic mineralization is exciting for the company. Trillium Gold continues to execute on its strategy of becoming a major player in the Red Lake district. These properties, in the Confederation greenstone belt, have similar geology to Great Bear’s Dixie project. The prospect of potentially finding another Dixie in this land package is tremendously exciting for Trillium Gold’s shareholders.”– Russell Starr, CEO of Trillium Gold
READ MORE ABOUT: Trillium Gold and its hunt for gold as it restarts drilling at its Newman Todd property.
Will the Lucky 6 Bring Joy to Shareholders?
Three of the properties included in the recently acquired package are named Lucky, Fly and Moth. They cover 9000 hectares and extend over 18km to within 1.5km of the past-producing South Bay zinc/copper/silver mine. Six mining companies previously explored these properties between 1967 and 1999. While much of this area has previously been examined for major and trace elements, few were analysed for gold.
A fourth property is named Joy. It covers 3,300 hectares over 13km. It was mined in 1970 by Caravelle Mines Ltd, and results from the time indicate the property may lie 11 kilometres to the west of the same stratigraphic horizon as the Dixie zone. Joy covers five mineralized zones but only one of them has been examined. The Diamond Willow Zone has a historical resource estimate of 270,000 tonnes grading 4% zinc plus copper.
Trillium Gold’s fifth property in the bundle is called Copperlode East. Making good on its mission to be a major player in the Red Lake district, Trillium Gold is expanding its Copperlode West claims with this 850-hectare addition.
Finally, the 2,175-hectare Pakwash Lake property extends Trillium Gold’s 100% owned, 20,650-hectare Leo property.
Trillium Gold has shareholders at the heart of its strategy. Being invested themselves, keeps management focused and engaged every step of the way. Here’s hoping these new acquisitions bring a multitude of joy and luck to Trillium Gold’s loyal shareholders.
READ OUR EXCLUSIVE REPORT – On this fully funded gold mining stock! Discover the many reasons to invest in this ambitious junior.
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