TOWER STOCK GOLD PROPERTY
| Under the terms of the Agreement, White Metal has the option to acquire 100% of the Project subject to a 2% underlying royalty on some of the claims comprising the Property by issuing to the Optionor 1,200,000 common shares of the Company and making cash payments totalling $145,000 over a period of three (3) years |
Location & Access
- Tower Stock Gold Project is located in Conmee township, ~50 km west-northwest of the port city of Thunder Bay, Ontario and accessed less then 1 km from Highway & Railway by existing trail.
- Consists of 81 Single Cell Mining Claims, 11 Boundary Cell Mining Claims and 3 patented mining claims that together cover 2,010 hectares.
- Centered on UTM coordinates 301104 mN and 5378234 mE (NAD83; Zone 16N) or latitude 48º 31’32” N and longitude 89º 41’38” W.
Highlights from the 2021 Phase 1 drilling program and recently completed IP geophysical survey include:
- Confirmation of low grade gold mineralization within an intense and pervasive alteration zone, extending over 2 km along strike;
- Discovery of the Ellen Zone, a new high grade gold zone, reporting 1.7 g/t Au over 82.50 m including 3.0 g/t Au over 45 m (TM-21-94: 10.00 to 92.50 m), and open in all directions;
- Excellent correlation between the Ellen Zone discovery and priority anomaly “TS-02” from the DasVision IP survey;
- DasVision IP survey outlined numerous new targets for follow-up prospecting, trenching and drilling;
- Drill hole TM-21-95 extended the historical Bench Zone to the south by a minimum of 75 metres;
- Compilation of all historical data and completion of the DasVision IP survey provide excellent drill targets within “gaps” between gold zones that are up to 500 m in strike; and
- The highly prospective H Zone requires re-mapping and additional drilling to test the new interpretation that this zone dips to the southeast at 50-60 degrees.
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