Mining Frontier
  • Home
  • News
  • Press Releases
  • Market Reports
  • Sectors
    • Aluminium
    • COAL
    • COPPER
    • DIAMONDS
    • GOLD
    • IRON ORE AND MANGANESE
    • NICKEL
    • NIOBIUM
    • PHOSPHATES
    • PLATINUM
    • STEEL
  • Projects
  • Events & Conferences
  • Contact US
  • More
    • Newsletter Archive
No Result
View All Result
  • Home
  • News
  • Press Releases
  • Market Reports
  • Sectors
    • Aluminium
    • COAL
    • COPPER
    • DIAMONDS
    • GOLD
    • IRON ORE AND MANGANESE
    • NICKEL
    • NIOBIUM
    • PHOSPHATES
    • PLATINUM
    • STEEL
  • Projects
  • Events & Conferences
  • Contact US
  • More
    • Newsletter Archive
No Result
View All Result
Mining Frontier
No Result
View All Result
Home Sectors GOLD

Golden Predator acquires 100% ownership of Reef Project

March 29, 2019
in GOLD, News
Golden Predator Reef Project

Note* - All images used are for editorial and illustrative purposes only and may not originate from the original news provider or associated company.

Golden Predator Mining has agreed to an amendment accelerating its option to purchase 100% of the Reef Project from Precipitate Gold consolidating 100% ownership of the 3 Aces District.

The Reef Project lies immediately north of the Company’s 3 Aces Project located in southeast Yukon and has been part of the overall 3 Aces Project since the original option agreement was signed in 2017. The purchase agreement provides the Company a savings of $450,000 in cash and approximately $400,000 in the Company’s shares and warrants resulting from amendments to the original agreement.

Although most of the Company’s work to date has been concentrated on its Central Core Area, district-wide reconnaissance has determined that the geology and style of mineralization underlying the Reef property are remarkably similar to what occurs within the Central Core Area.

“With this purchase of 100% of the Reef Project, the last piece of the puzzle, at the consolidated 3 Aces Project, we have a great savings to the company with reduced dilution for shareholders. We are also working towards our restart of the 2019 season at the company owned bulk sample processing plant and we look forward to our internally funded 2019 exploration and development season,” said Janet Lee-Sheriff, Chief Executive Officer.

“After 2 ½ years of extensive exploration and discovery on the Central Core Area we have developed, and successfully tested, a geologic model for gold deposition at the 3 Aces Project. District scale reconnaissance along the over 30 km strike length of the project, through two field seasons, suggests the Reef project has lithological, structural, and geochemical characteristics comparable to the Central Core on our 3 Aces Project,” said Jeff Cary, 3 Aces Project Manager.

Terms of the Agreement
In order to exercise the option in full, the Company has agreed to (i) issue, by April 1, 2019, 950,000 common shares and 450,000 warrants exercisable for a period of four years at a price of $0.40 per share, and (ii) pay $50,000 in cash by June 30, 2019, to Precipitate Gold. These obligations replace the second and third year cash payments and securities issuances as disclosed in the Company’s initial news release announcing the option. All other material terms of the option remain unchanged and the amendments to the option agreement, remain subject to TSX Venture Exchange approval. The securities issued pursuant to this transaction will be subject to a four-month hold period in accordance with applicable securities laws.

The Reef Property
The Reef Property consists of 418 claims (8,490 ha or 84.9km2) and is strategically located directly north of the Company’s original 3 Aces property. A similar structural framework and stratigraphic package are present throughout the consolidated project area which hosts a large area of anomalous gold (>25 ppb) in soil geochemistry in several clusters along a 3.2 km north-northeast trend the largest which now covers 2.4 km of the trend with values ranging up to 774 ppb gold. Rock samples on the property range from below detection to a high of 2.24 g/t gold. The Company’s work of the last two years has confirmed historical exploration on the properties and extended the soil geochemical anomalies by 1,000 m along strike with similar metal signatures to the 3 Aces Central Core area and similar mineralization found at the 3 Aces property.

3 Aces Project, Yukon
The 3 Aces Project is a 316 km2 orogenic gold project in southeast Yukon. The Company has to date focused exploration on the 13.5 km2 Central Core Area, a broad gold-in-soil anomaly, where numerous orogenic gold-bearing quartz veins have been discovered. Exploration over the past two years has systematically advanced the project by establishing: (1) high gold grades can be reliably sampled; (2) gold mineralization is in predictable stratigraphic structural locations; (3) gold grades have robust continuity within the recognized controlling features; and (4) most of the gold is free-milling and readily recoverable by gravity concentration. Results from the Central Core Area support a stratigraphic structural model that predicts extensive lateral and vertical continuity of the 3 Aces mineral system. The Company is developing targeted drilling programs to establish continuity between the Central Core Area and other mineralized zones along the over 30 km strike of the 3 Aces property. Orogenic gold deposits are among the world’s largest and richest such as the California Mother Lode Belt and the Juneau Gold Belt.

 

 

Previous Post

GKN Additive merges Materials and Components to further accelerate innovation

Next Post

Nordgold to maintain capex at Burkina Faso mines at about $145m

Related Posts

US Eyes Rubaya Mine in Congo
News

US Eyes Rubaya Mine in Congo for Coltan Reserves

June 30, 2025
HD Hyundai Construction
News

HD Hyundai Construction Equipment Expands Mining Presence

June 27, 2025
South Africa Revives Mining Endeavors
News

To Keep Pace Globally, South Africa Revives Mining Endeavors

May 19, 2025
Mining Projects in America
News

Mining Projects in America Getting the Executive Order Push

May 19, 2025
Coal Exploration Programme
News

Coal Exploration Programme Gets a Go Ahead in Canada

May 19, 2025
Mining StartUps Looking for Better Europe Avenues
News

Mining StartUps Looking for Better Europe Avenues

May 19, 2025
Next Post
Nordgold Mines

Nordgold to maintain capex at Burkina Faso mines at about $145m

No Result
View All Result

Recent Posts

  • Automated Solutions in Mining Equipment Driving the Change
  • Absolute Visibility of Digital Transformation in Mining
  • 2025 Mining Equipment Trends – Carrying Legacy to Modernity
  • Ore Extraction Processes Getting AI-Powered Robot Support
  • A Deep Dive into Machinery Maintenance in Mining in Canada

System

  • Search
  • Sitemap
  • Feed

Resources

  • Contact US
  • Download Mediapack
  • Home
  • News
  • Press Releases
  • Market Reports
  • Sectors
  • Projects
  • Events & Conferences
  • Contact US
  • More

© 2019 Copyright Valuemediaservices All rights reserved.

No Result
View All Result
  • Home
  • News
  • Press Releases
  • Market Reports
  • Sectors
    • Aluminium
    • COAL
    • COPPER
    • DIAMONDS
    • GOLD
    • IRON ORE AND MANGANESE
    • NICKEL
    • NIOBIUM
    • PHOSPHATES
    • PLATINUM
    • STEEL
  • Projects
  • Events & Conferences
  • Contact US
  • More
    • Newsletter Archive

© 2019 Copyright Valuemediaservices All rights reserved.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In