Now The Largest Landholder In Red Lake Gold Camp
British Columbia-based Trillium Gold Mines Inc. (TSXV:TGM) is preparing for a major examination of the exciting Red Lake District of Ontario after building a powerful position there over the last 12 months.
During 2020, Trillium successfully accomplished the consolidation and acquisition of multiple key properties in the Red Lake camp, including the increase to 100% ownership of the flagship Newman Todd Project and the purchase of 100% of the contiguous Rivard high-grade gold property.
In addition to the Wolf Bay and Leo properties, Trillium Gold, through four acquisitions, substantially increased its land holdings in the Red Lake District. The first being that of the Western Bear, Sydney Lake, and, in the Abitibi greenstone belt, Shining Tree Properties. The partnership with Rupert Resources on the Gold Centre property saw Trillium Gold acquire 80% of the property immediately adjacent to Evolution Mining’s Red Lake mine. T
CEO Russell Starr said these acquisitions culminated with the large land package agreements in the Confederation Lake greenstone belt with the potential to host “LP Zone” style gold mineralization, all of which are crucial acquisitions that fit our investment strategy in consolidating the Red Lake Gold camp. Trillium Gold is now the largest land holder in the Red Lake gold camp.
Trillium Gold also commenced the first drill program at Newman Todd since 2013 and has already seen evidence of the inferred structural enhancement within the prospective mineralized footprint. This will continue to be drilled tested throughout 2021. Highlights from the 6,027m in 16 holes drilled to date include 9.09 g/t Au over 3.30m from 176.30m in NT20-166, 8.63 g/t Au over 6.55m from 311.15m in hole NT20-167, 15.41 g/t Au over 7.05m with visible gold specks from 226m in NT20-169, and 5.14 g/t Au over 3.85m from 72.4m in hole NT20-171. See the press releases dated October 6 and October 28, 2020 for more details. A large number of assays are still pending from the drilling completed just before the Christmas break.
“Its been less than six months since I joined the company and we’ve been moving at a rapid pace, completing project acquisitions, more then C$13 million in equity raised by way of private placement, phase one drilling on the NT Property, three airborne surveys, and building one of the most experienced Red Lake exploration teams currently active in the Red Lake District,” Mr Starr said.
“The M&A activity completed this year was crucial to our strategy of building a world-class portfolio of projects in one of best gold camps on the globe.”
Drill permits for three projects (Rivard, Gold Centre and Leo) have been submitted with the first permit received, for the Rivard Property, just before Christmas. Deep drilling on Gold Centre, and overburden drilling on the Leo Property are expected to commence in Q1 2021 once these permits are received.
Three helicopter-borne high resolution gradient magnetometer surveys were completed on Red Lake projects – Western Bear, Sydney Lake and Leo with the Shining Tree property to be completed in early January. Trillium contracted Precision GeoSurveys to undertake the surveys. Geological interpretations of the three Red Lake surveys are currently underway by Paterson, Grant and Watson Limited.
