Project wide view of Spatiotemporal Geochemical Hydrocarbon (SGH) sampling grids highlighting several newly discovered gold anomalies on Trillium Gold Mine’s Confederation belt properties. Source: Trillium Gold Mines
Kinross (NYSE:KGC), the senior Canadian gold producer, announced in on February 24, 2022 the completion of the plan of arrangement to acquire all of the issued and outstanding shares of Great Bear Resources for C$1.8 billion. The company’s primary asset, the Dixie project, where drilling has revealed world-class structures, includes 9.14 ha of contiguous deposits extending over 22km and is one of the largest and most exciting discoveries in recent years.
J.Paul Rollinson, president and chief executive officer of Kinross said, “The closing of the acquisition of Great Bear Resources represents a milestone for Kinross as we advance our future growth strategy. We are excited to add such a high-quality asset in a top mining jurisdiction to our global portfolio.”
“The Dixie project represents an exciting opportunity to develop a potentially world-class deposit into a large, long-life mining complex.”
Trillium Gold’s Dominant Land Package
The massive deal underscores the importance and potential of the Red Lake Mining District, an area where Trillium Gold Mines (TSXV:TGM), a gold exploration company with a dominant land package in the area is operating.
Along the same structural trend as the Dixie deposit, Trillium Gold recently announced a definitive agreement to acquire a massive contiguous land package over a major part of the Confederation Belt that covers more than 100 km of structure. Trillium’s land package is not only on-trend, but is the largest land assemblage in the area. Considering the size and potential of the Confederation Belt land package, the potential for multiple Dixie-size discoveries is within the company’s midst. The definitive agreement is seen as an important step in strengthening the Company’s strategic advantage to consolidate the greenstone belt and position it as the most dominant exploration company in the Red Lake Mining District.
In January 2022, the Company reported results from 17 SGH (spaciotemporal geochemical hydrocarbon) regional soil sampling grids on its Confederation belt properties which identified numerous gold pathfinder anomalies that will serve as priority targets for Trillium Gold’s second phase of exploration work in the 2022 field season. The newly identified relationships among SGH-generated gold targets, historical gold assays and possible structural and lithological controls, effectively launch Trillium Gold’s Confederation belt properties into a new era in gold exploration.
The Willis Property
In addition, Trillium recently acquired a key land package southwest of its 100% owned Newman Todd Complex, a project initially being advanced towards open-pit mining, with depth potential to the southwest known as the Willis Property, comprising thirteen patented mineral licenses totalling 229 hectares.
As with the Newman Todd Property to the north, Willis shows many similarities to the major eastern gold mines: namely, rock types, structures, mineralization and alteration. Despite these attributes, the property has seen very little exploration since the 1930s and is one of the few remaining unexplored properties in the Red Lake greenstone belt.
As Trillium Gold continues to settle into its position as the most dominant exploration company in Red Lake, investors will continue to watch closely for the high potential at its Red Lake property portfolio the company has amassed over the past 12 months.