SHARPE LAKE project
The 16,591-hectare (40,996-acre) Sharpe Lake Property covers 40-km of the Stull Lake-Wunnummin Fault Zone (SWFZ), a major gold metallotect, which is the western strike-extension of the deformation zone that transects the Monument Bay-Twin Lakes area where Yamana Gold Inc. (formerly Mega Precious Metals; Rolling Rock Resources; and prior thereto a Wolfden-Bema Gold Joint Venture) is developing a gold resource. The Mega Precious Metals NI 43-101 compliant estimate of measured and indicated resource is 2.13 million ounces of contained gold at a grade of 1.51 gpt gold and has a substantial tungsten credit. Gossan’s property, located 550-km northeast of Winnipeg, is comprised of three exploration permits with their work requirements on hold.
The Sharpe Lake Property and its Bear Showing is the subject of a National Instrument 43-101 Report which was filed with SEDAR. The Report compiles the work that has been conducted on the property and recommends a drill program to investigate gold mineralization at the Bear Showing at the west end of Sharpe Lake where co-incident geophysical and geochemical anomalies have been identified. With a minimum strike length of six kilometres bounded by bifurcations of the SWFZ, a major crustal break, the Bear zone is considered a high priority target for economic gold deposits.
The Company is seeking a joint venture partner to conduct a drilling program at the Sharpe Lake Property.