Prime Meridian Resources (PMR) has an option to acquire a 100% ownership in two claim blocks (10,500 acres) in the Pakwash area of the Red Lake gold district in Ontario, Canada, subject to a 1.5% NSR royalty.
The Bruce Lake Project comprises 4,250 acres and is located south east of the Dixie Project of Great Bear Resources (GBR.TSXV) and the Camping Lake Project comprises 6,250 acres and ties directly on to the south east of the Pakwash Project of Great Bear Resources.
The Company has the right to acquire a 100% interest in the Bruce Lake and Camping Lake Projects by paying $86,500 and issuing 400,000 common shares over 5 years, as per the following:
100% ownership of 2 claim blocks (10,500 acres total) in the Pakwash area of the Red Lake. Ontario gold district.
Prime Meridian Resources Corp.
Great Bear Resources Ltd.
Laurentian Goldfields Ltd.
The supracrustal rocks in the north are intruded by two intermediate intrusions, 1) a granodiorite of undetermined age and 2) diorite intrusions known as the Pakwash Lake Pluton and the Bruce Lake Pluton
The magnetic data is an asset for identifying structures and lithological contacts. Most notably the survey resolved a previously unrecognized, highly magnetic granite with a distinct ellipsoid shape. This body is noted as an important exploration target because of the significance of oxidized granitiods in other Archean gold deposits in the Superior Province.
MMI™ Soil Samples of Laurentian Goldfields Ltd. – November 2010
Laurentian Goldfields conducted a soil sampling program using the MMI sampling method across its entire Goldpines property at 500mx500m sample spacing. The MMI sampling method was employed because the Goldpines property is largely covered by thick glacial till. In the absence of outcrop, MMI can be used to effectively delineate the geochemical expression of mineralized bedrock below the overburden. This method is unique in that it measures the concentration of only the mobile ions in the surface soils. It relies on the principle that ions which migrate from a source at depth (by processes such as convection, electrochemistry, diffusion, and capillary rise) are absorbed into surface soils, forming weak bonds with the soil particles around them.
Regional MMI conducted by Laurentian Goldfields on their previously held Goldpine Project.
Laurentian’s D-Nut detailed soil grid was designed to cover a highly prospective area within the Pakwash Lake Fault Zone near the edge of on oxidized granite pluton.
Portions of these gold anomalies have been captured in the Camping Lake claim block. These samples may reflect weakened element responses since the region is blanketed by a thick layer of impermeable clay that may restrict ion migration.
The Ear Falls grid of Laurentian provides detailed sampling coverage near the eastern portion of the Sydney Lake Fault Zone.
Portions of these gold anomalies have been captured in the Camping Lake claim block.
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