Jul 28 2020
Gold Plus Mining Inc. reports that it has signed an agreement to achieve highly prospective mineral claims in British Columbia’s well-known “Golden Horseshoe” region that is adjacent to Benchmark Metal’s “Lawyers” Gold and Silver project.
Map of Gold Plus’ properties in relation to Benchmark’s “Lawyers” property and nearby deposits. Image Credit: Gold Plus Mining Inc.
Drilling intercepts of 11.30 g/t gold and 2,360 g/t silver were recently reported in this project across an interval of 1 m, together with 1.44 g/t gold equivalent across 102 m.
The mineral claims of Gold Plus cover about 8,650 acres and are on-trend with various mines located in the region, situated at the south-eastern side of Benchmarks’ “Lawyers” property, below TDG Gold Corp’s “Baker” Mine and “Shasta” Mine and in tandem with the “Kemess” Mine further South East that hosts 2.7 Moz of gold equivalent.
Mineralization intersected on close-by and/or adjacent properties does not essentially indicate mineralization hosted on the properties.
Gold Plus proposes for an exploration program on its two claim blocks, including an airborne survey to further outline magnetic targets and the mobilization of the work teams to carry out a sampling program to test the crops and soil geochemistry, with the goal of finding high-priority drill targets.
With the acquisition of these highly prospective claims, Gold Plus now has three projects in some of the most prolific mining camps in Canada: the Golden Triangle in British Columbia, the Red Lake mining camp in north west Ontario and the Abitibi region of Quebec. We plan to conduct work programs on all three properties throughout 2020 and define priority targets for upcoming drill programs.
Keith Anderson Jr, President and CEO, Gold Plus Mining Inc.
Recently, the adjoining Benchmark Metals declared the inclusion of a fifth drill rig to its 50,000-m drill program and has finished more than 10,500 m to date from more than 60 drill holes in resource definition and expansion areas at its “Lawyers” discovery.
Benchmark aims to set up a five-million-plus-ounce resource by June 2021, with initial economic studies to be performed later in the year.
Highly prospective rocks are hosted by Gold Plus Mining’s property in the northeastern region of the prolific metal-endowed Stikine Terrane, British Columbia, Canada.
Logan and Mihalynuk (2014) report that magmatic events in Stikine at the time of the Late Triassic and Early Jurassic were crucial for the growth of mineralizing epithermal and porphyry systems.
Similar mineralizing and magmatic events are identified on both the east and west sides of the Bower Basin making an arch of gold and polymetallic mineralization. This arch is portrayed as the “Golden Horseshoe,” including the Golden Triangle.
A few high-grade downhole drilling intercepts from neighboring Benchmark’s “Lawyers” property contain:
- 12.67 g/t Au & 143.39 g/t Ag over 28 m
- 52.02 g/t Au & 846.44 g/t Ag over 3 m
- 86.06 g/t Au & 583.83 g/t Ag over 7 m
- 108.36 g/t Au & 911.2 g/t Ag over 7 m
- 259.76 g/t Au & 3,320.3 g/t Ag over 3 m
Private Placement
Also, Gold Plus Mining would like to declare a non-brokered non-flow via a private placement of up to $975,000 comprising up to 6,500,000 units at $0.15 per unit. Each unit will include one common share and one share purchase warrant, where each warrant can be exercised as one common share at $0.30 for a period of two years.
Apart from that, a flow-through unit private placement of up to $400,000 comprising up to 2,000,000 units at $0.20 per unit is also included. Each unit will include one common share and a share purchase warrant, where each warrant can be exercised as one common share at $0.30 for a period of two years. Gold Plus Mining might pay a finder’s fee in line with applicable laws.