Big Gold Acquires Tabor Project Near Thunder Bay, Ontario
Big Gold (CSE: BG) is expanding its land holdings in Ontario, announcing this morning that it has acquired the Tabor Project, found northwest of Thunder Bay, Ontario. The project is said to be on trend and adjacent to the Moss Lake Gold deposit, operated by Goldshore.
The project itself is said to be close to infrastructure, with rail, power, and a highway either cutting through or adjacent to the property, and covers a total of 156 mineral claims that consist of 3,120 hectares. The claims lay atop the Shebandowan Greenstone Belt.
Sporadic exploration is said to have occurred on the property over the last seven decades, will three separate drill programs occurring on the property. Intersects of 2.00 g/t gold over 5.1 feet and 1.38 g/t gold over 4.1 feet were reported to have occurred in 1960 when the property was tested by Realm Mining Corp. Two decades later, 47 tons of material from the project was extracted, yielding 13 ounces of gold, equating to 0.276 g/t gold.
“As our technical team continues its interpretation of the fall 2022 exploration campaign at our Martin Kenty Project, we are focusing our attention on geographical diversification to ensure that we have year-round catalysts driving shareholder value. Tabor is located in a great jurisdiction with numerous deposits and developments on trend and our timing to acquire the project allows us to launch a program right away,” commented Scott Walters, CEO of Big Gold.
READ: Big Gold Reports Samples Assaying 8.4 g/t Gold At Martin Kenty Property
The property was acquired via the issuance of 1.4 million common shares, with the property subject to a 2% NSR, 1% of which can be repurchased for a $1.0 million cash payment.
Big Gold last traded at $0.03 on the CSE.
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