TSX-V-listed mineral exploration company Angus Gold has acquired a 100% interest in key mineral claims that are contiguous and adjacent to its Golden Sky project, near Wawa, in Ontario, Canada.
The consolidated Golden Sky land package now stands at 267 km2.
“We are extremely pleased with the success Angus has achieved in not only building a district-scale project in one of Ontario’s most active mining areas, but also making new gold discoveries within its consolidated land package,” says Angus CEO Steve Burleton.
“This success has justified an expansion of our exploration plans and we are implementing more geophysical and geochemical programmes to support our growing 2022 drill programmes. The claims we have just acquired are key claims along the Mishi gold trend and will be included in this year’s regional exploration.”
The Golden Sky project, situated between Wesdome Gold Mines’ Eagle River and past producing Mishi Pit mines, is the site of significant new gold discoveries in the banded iron formation horizon and also hosts an historic gold resource in the Dorset zone.
Angus acquired the acquisition claims on an arm’s length basis in consideration for a one-time cash payment of $8 000, the issuance of 40 000 common shares of the company and the grant of a 1.25% net smelter return royalty.
Completion of the acquisition is subject to the receipt of all regulatory approvals including the approval of the TSX-V.