Gains Option On Dash Lake Gold Project
Nuinsco Resources Limited (CSE:NWI) has added to its prospective gold property holdings through an option agreement to acquire a 100% interest in the Dash Lake gold project located 50 km northwest of Fort Francis, Ontario in the prolifically gold mineralised Kakagi-Rowan Lake Greenstone Belt.
CEO, Paul Jones, said the Project is underexplored, encompasses and is near several historic gold showings, and is easily accessible via logging roads. The terrain is well known to the Company which has extensive experience conducting exploration in the region. The Company’s work programmes have led to gold discoveries at Cameron and Rowan lakes and in Richardson Township at what is now the producing Rainy River Mine.
“This option brings Nuinsco back to its roots,” Mr Jones said. “This is a region the company and its shareholders know very well, having explored there extensively and having discovered and developed significant projects such as the Cameron Deposit (now owned by First Mining) and the Rainy River Mine (now operated by Newgold) – for both deposits the Company conducted work programs that led to maiden resource estimates.
“The Dash Lake Project is well located in relation to regional structures controlling gold mineralisation and provides excellent exploration potential.”
The newly-optioned project comprises nine mining claims (consisting of 121 cells) encompassing 24.5 sq. km.
The Dash Lake property is located in the Kakagi-Rowan greenstone belt of the Wabigoon Sub-province. To the west, the claim group straddles the contact of the Sabaskong Batholith a known locus of gold mineralisation in the area and to the east, the property abuts the Helena-Pipestone Lakes Fault that controls a number of gold occurrences locally.
The property is little explored, underlain by mafic to felsic metavolcanic rocks and mafic to felsic intrusions. Numerous historic gold occurrences are situated near and on the Property demonstrating a range of mineralization style and grades.
The occurrences derive from historic work programs conducted between 1984 and 2011 and include the Hook Bay occurrence where diamond drilling returned 31.1g/t Au over 1.35m, the Dash Lake occurrence where grab samples returned assays up to 6.2g/t Au, and the Bethune occurrence with grab samples up to 30.6 g/t Au.
At the Dash Lake South occurrence, located on the property, grab samples obtained from a pyrite mineralised felsic intrusion returned numerous anomalous grades up to 2.88 g/t Au.
