Trillium Gold Mines (TSXV: TGM) has received drill permits for its Gold Centre property. The property is notably located immediately adjacent to as well as along strike of Evolution Mining’s Campbell-Red Lake Mine, with the firms operations being within several hundred metres of the Gold Centre Property.
With drill permits now in hand, the company has revealed that it has planned a combination of holes that will target shallow sulphide-type mineralization, as well as deep drilling that will target high grade and sulphide mineralization. The company currently has an agreement in place to acquire an 80% stake in the property, which is anticipated to close this month.
Most notably, Evolution Mining’s underground infrastructure comes within 350 metres of the property boundary line, suggesting that strike extends onto the Gold Centre property. Prior exploration meanwhile conducted on the claims intersected Balmer volcanic rocks, similar to what has been discovered at the neighbouring Red Lake operation.
Nine trends were interpreted on the Gold Centre property following a geophysical IP survey conducted in 2013. Three of which are identified as being strong to very strong on the North Grid of the property.
“With favourable Balmer volcanics having been intersected at depth on the Gold Centre property, similar to the adjacent two mines that have produced more than 24 million ounces at an average grade of 15 g/t Au to date, the potential for extensions of both high grade and sulphide mineralization makes Gold Centre a high priority target.”
Bill Paterson, Head of Exploration for Trillium Gold
Trillium Gold last traded at $1.60 on the TSX Venture.
FULL DISCLOSURE: Trillium Gold Mines is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Trillium Gold Mines on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
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