Since 2012, Bounty Gold Corp has been building a significant land position in the prolific Red Lake Mining District of Northwestern Ontario. At the present time, this position consists of over 30,000 hectares of highly prospective gold exploration projects.
Great Bear Resources’ recent exploration success on the periphery of the Red Lake Greenstone Belt within a metavolcanic package of unknown affinity has the potential to redefine which areas are prospective for a high-grade gold discovery in Red Lake. Historically though, all major gold production in Red Lake has been mined from the 2.96-2.99 Ga Balmer Assemblage, and more specifically, from within several hundred meters of its contact with the younger 2.74-2.76 Ga Confederation Assemblage.
In 2015-2016, Bounty Gold Corp entered into a research agreement with Lakehead University to study the geology of our flagship Laird Lake Gold Project. That research identified an ~11 km extension of the highly prospective Balmer-Confederation Assemblage contact and Flat Lake-Howey Bay Deformation Zone which hosts Pure Gold Mining’s Madsen Deposit, which is being advanced toward production later in 2020. With this new science-based interpretation of Red Lake’s geology in-hand to guide our exploration efforts, Bounty Gold Corp has now identified 9 high-grade surface showings (between 5 and 140 g/t Au in grab samples) over a strike length of 5.4 km on the Laird Lake Gold Project, and the property has been advanced to being “drill-ready” with a maiden drill program planned for the summer of 2020.
Bounty Gold Corp’s exploration success on the Laird Lake Gold Project forms the basis of our exploration thesis elsewhere within the Red Lake Greenstone Belt. Many of the other property packages have the same potential for the extension of important lithology, geological contacts and controlling structures to extend onto them, into areas that have been overlooked or historically underexplored.
Many of these properties are available for option or joint venture.
Bounty Gold Corp.