Source Gold Corp. is a junior mineral exploration company. The company is currently focusing on the exploration and development of high-quality gold mining projects in Canada, in particular the prolific Beardmore-Geraldton Gold Camp in northwestern Ontario. This area has produced over 4.1 million ounces of gold. The company has acquired the KRK West Property, which hosts two previously producing mines.
The company announce today that it has initiated an extensive claim staking program near its existing joint venture property in the Beardsmore-Geraldton area of northern Ontario. Claim staking activity is taking place in an area in close proximity to a previously producing mine. This mine had produced approximately 150,000 ounces of gold and 20,000 ounces of silver. The mine had been shut down and re-opened several times due to a rise or fall in market conditions for gold and silver.
The new properties being acquired by Source Gold are directly online with trending geology from the mine location. Geological sampling is being conducted as staking progresses. This area has particularly high values in gold showings with several old previously producing mines in the general area.
Lauren Notar, the president of Source Gold, stated, “We intend to add some 10,000 to 12,000 acres of 100%-owned and operated claims during this staking program. The company will focus its field operations on these highly prospective properties as we evaluate the accumulated information from our existing joint venture in the area.”
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