A Vancouver gold explorer on a recent acquisition spree has picked up more property near Red Lake and the Larder Lake area of northeastern Ontario.
Trillium Gold Mines has added 7,939 hectares to its steadily expanding holdings near the northwestern Ontario mining camp, this time in a very prospective area known as the Confederation Lake and Birch-Uchi greenstone belts.
In a Jan. 18 news release, Trillium said it's cashed up for a 35,000-metre drill program on greenfield property in the Red Lake district that has "exceptional" potential.
"The Trillium team is committed to building district-scale opportunities for TGM shareholders," said company CEO Russell Starr in a Jan. 18 news release.
"We have grown substantially in a short period of time and now the exciting period for all shareholders begins – the drilling and discovery phase."
Their Confederation Lake properties include the 2,222-hectare Karas Lake property, last drilled by Stelco in the late 1970s to hunt for iron and base metals; along with Gerry Lake, an 836-hectare property that forms a "bridge" between Trillium's recently acquired Joy and Copperlode properties.
Their Birch-Uchi properties include Satterly Lake, a 3,049-hectare property, 90 kilometres east of Red Lake. Trillium said the property is unexplored but there’s been several documented gold occurrences on nearby land. It’s located less than two kilometres from the former Sol D’Or Mine, a producer of 256 ounces of gold and 33 ounces of silver between 1933 and 1936.
Swan Lake is a 1,832-hectare property located eight kilometres northwest of First Mining’s Springpole Lake property, a proposed open-pit mine. Numerous gold occurrences have been documented and there's a host of former gold and silver producers and mineral prospects within a six-kilometre radius.
Over in the northeast, Trillium's new 4,360-hectare Larder Lake property, near the Ontario-Quebec border, is sitting on an eastern extension of the highly mineralized Kirkland Lake fault. The property's southern boundary has historical work going back to the 1920s and 1930s when trenching and drilling was done with an exploration shaft sunk down to 64 metres.
In the late 1990s, a predecessor company performed ground geophysical surveys, geological mapping, sampling, and drilling to follow gold mineralization to the east.
Trillium also announced that it's picked up three properties in the Matagami and Chibougamou areas of western Quebec.