Trans Canada Gold Receives Drill Permits For Newfoundland Property
Trans Canada Gold Corp (TSXV: TTG) this morning announced that it has received drill permits for its Crippleback Gold project, located in Central Newfoundland. The full approval follows an initial exploration permit approval at the end of June.
With the drill permits in hand, the company is now in the process of preparing gold targets for the planned program at the property. Targets identified include those previously identified by Sokoman Minerals, as well as targets that were refined via a recent magnetic airborne survey conducted over the property.
While permits have been approved for a drill program and the use of heavy machinery on the property, Trans Canada has yet to define to the markets what its maiden program is to consist of in terms of aggregate metres or planned holes. However, the firm has revealed that selected targets are in the process of being prepared for drilling.
“We are excited to have the first of many drill permits now in place, which will quickly advance the Crippleback Lake Gold Project and upcoming drill programs,” said CEO Tim Coupland, who continued by stating, “The results of our recently completed Heli- GT Triaxial Magnetic airborne survey has identified many additional structural lineaments located on the Crippleback Lake Gold Project and will greatly assist in identifying, developing and refining our existing gold targets and greatly assist us in targeting prior to drilling.”
The Crippleback Gold property is located along the Cape Ray Fault in central Newfoundland. The same fault hosts both Marathon Gold’s Valentine Lake gold deposit, as well as Sokoman Minerals’ Moosehead gold discovery.
Trans Canada Gold last traded at $0.15 on the TSX Venture.
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