Trans Canada Gold Acquires Gold Crow Property In Northern Ontario
Trans Canada Gold (TSXV: TTG) yesterday announced that it has acquired the Gold Crow Gold Property in northern Ontario. The property is classified as a district scale gold and magmatic copper-nickel-cobalt property, which contains the potential for further discovery.
Located within the Pickle Lake greenstone belt, the property is situated near Pickle Lake, Ontario, and covers a total of 15,185 hectares of land. Furthermore, the property reportedly straddles both the north and south trend of the Misehkow arm of the greenstone belt, a belt which historically has hosted 3 million ounces of gold production from five underground mines.
Exploration for the property is expected to be fully permitted for the 2021-2022 exploration season. Access to the property is available via both float plane and helicopter, while having easy access to the community of Pickle Lake.
The most recent exploration undertaken on the property was conducted between 2010 and 2012, with drill results returning highlight values of 5.44 metres of 10.86 g/t gold, including 2.40 metres of 18.26 g/t gold within the Jackpot zone. Prior exploration has also been conducted on the Nickel Crow zone, where values of 1.22% copper-nickel across a span of 15 feet was intersected, while trench samples returned averages of 0.66% copper, 0.25% nickel, and 0.12% cobalt.
“The Gold Crow Gold Project has encountered in historical drilling, the existence of high-grade gold and multiple high grade drill targets situated in banded iron formations, as well as magmatic copper-nickel-cobalt mineralization in gabbro that are drill ready, situated on the Gold Crow Property. We believe having many historical past gold producers to the north of our property, and the elevated gold system situated on the property has the potential to develop sizeable zones of gold
Tim Coupland, CEO of Trans Canada Gold
mineralization.”
The Gold Crow property was wholly acquired by the company in exchange for 4.0 million common shares of the issuer, as well as $75,000 in cash. The property remains subject to a 3% net smelter royalty.
Trans Canada Gold last traded at $0.12 on the TSX Venture.
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