Big Gold Inc. (CSE: BG) has acquired the Tabor Project within the Shebandowan Greenstone Belt northwest of Thunder Bay, Ontario.
The addition of Tabor places Big Gold on trend with Goldshore’s 4.17Moz (grading 1.1g/t Gold) Moss Lake Gold deposit and gives the company an opportunity to explore year round.
The Tabor property consists of 156 mineral claims and is well located, with a highway, rail line and power line all cutting through or adjacent to the project. Local communities and educated workers will help make exploration efficient and cost effective.
The Project is located immediately to the east of the extensive landholdings of Goldshore Resources Inc.’s high profile Moss Gold Project (where a 100,000m drill program is underway) and west along trend with Delta Resources’ Delta-1 Gold project which recently drilled 6.49g/t gold over 10 metres.
Gold mineralization on the Project of roughly 3,120ha is reportedly associated with quartz veins, shearing and sulphides including pyrite, pyrrhotite, sphalerite and chalcopyrite. Geological host rocks include mafic volcanics, sericite schists, felsic porphyry units and chemical sediments. Gabbro, sericite schist and bedded sediments are also reported to outcrop on the Project.
“As our technical team continues its interpretation of the fall 2022 exploration campaign at our Martin Kenty Project, we are focusing our attention on geographical diversification to ensure that we have year-round catalysts driving shareholder value,” President and CEO, Scott Walters, said.
“Tabor is located in a great jurisdiction with numerous deposits and developments on trend and our timing to acquire the project allows us to launch a program right away.”
Claims that cover part of the land package have been the subject of sporadic exploration over the past 70 years with drill programmes first undertaken in 1955, then again in 1960s, and in 1983.
Of note, in 1980 prospector Knut Kuhner carried out trenching and sampling and extracted 47t of mineralized material. Noranda processed seven tons of that material and Northern Concentrators processed 40t. The 47 tons yielded approximately 13oz of gold, implying a recovered grade of roughly 0.276 ounces of gold per tonne.
Under the terms of the Acquisition, Big Gold will issue 1,400,000 common shares of the company and pay the Vendor $6,500 for a 100% interest in the Tabor Property, subject to a 2% NSR. The company can buy back 1% of the NSR for one million dollars.
For further information please visit: https://biggold.ca/
