Exploration-stage Crystal Lake Mining wants investors to consider the Golden Triangle as the next major gold play in Canada.
Gold explorer Crystal Lake Mining (TSXV:CLM,OTC Pink:SIOCF) wants potential investors to consider the Golden Triangle as the next major gold play in Canada.
At the Precious Metals Summit in Beaver Creek, Colorado, Maurizio Napoli, the company’s vice president of exploration, spoke about upcoming drill results, the Golden Triangle and Crystal Lake’s latest investor.
The company’s flagship project is the Newmont Lake project, located in Northern BC near the Canada-US border. Since acquiring the project, Crystal Lake has grown its land claim from 520 square kilometers to approximately 720 square kilometers.
“I think we are one of the largest landholders for junior companies in the Golden Triangle,” said Napoli. “Like real estate, it’s about location, location, location in our industry, and I think our location is excellent. Most people are pretty impressed with our land package.”
According to the company, the jurisdiction, particularly the area around the Newmont Lake project, has produced some 65 million ounces of gold to date, with much more forecast in the coming years.
The area possesses so much potential that Napoli sees it rivaling the Abitibi region of Ontario, Canada’s most prolific gold mining area, which has produced 170 million ounces.
“If you look at the entire Golden Triangle, we’re probably looking at an in-ground resource that’s approaching Abitibi (ounce levels) … It’s probably one of the best endowed districts in Canada right now.”
Crystal Lake’s project and location have been enough to entice Rob McEwen, one of Canada’s top gold sector leaders, to invest.
The founder of Goldcorp and current chairman and CEO of McEwen Mining (TSX:MUX,NYSE:MUX) purchased 1,666,667 units or C$500,000 worth of shares last week.
“Robert’s joined our team and we are more than happy to have him with us,” Napoli said. “His expertise knows no equal.”
Watch the full video above to find out about Crystal Lake’s pending drill results — some of which have been released since the video was filmed — and more. Our full playlist for the Precious Metals Summit can be found on YouTube.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.