Gambier Gold Corp. (TSXV: GGAU) is pleased to announce it has acquired the Hemlo South Gold Project in northern Ontario.
The Hemlo South project is located in the Archean Schreiber-Hemlo greenstone belt, which is host to the Hemlo gold deposit that has produced over 21 million ounces of gold since its discovery in the early 1980’s. Production at Hemlo continues to this day through operations at the Williams mine, an underground and open-pit operation owned and operated by Barrick Gold Corp.
The Hemlo South project encompasses an area of approximately 1,236 hectares, and directly adjoins Barrick’s Hemlo property, with the Williams mine site located approximately 7 km to the northeast of Hemlo South.
In 2007, previous operators of the Hemlo South project completed a high-resolution AeroTEM survey, which positively defined a 4 km trend of discrete magnetic structures, coinciding with government mapping of mafic, intermediate and felsic rocks. These structures, along with historical gold-in-soil anomalies elsewhere on the project, will be the main focus of exploration for the upcoming field season.
The Company is currently reviewing all historical data on both its Hemlo South and Hemlo West projects, and is in the process of planning summer field programs. The Company intends on completing SGH (Spatiotemporal Geochemical Hydrocarbons) and till sampling surveys over its Hemlo area projects. As described by Actlabs, SGH analysis is a high-performance deep penetrating geochemistry which has successfully shown the presence of deeply buried mineral deposits, and has been used successfully at other exploration projects in the Hemlo area.
Consideration for the Hemlo South project consists of the reimbursement of claim staking fees and the granting of a 2% net smelter return royalty on the project claims.
A map of the Company’s projects in the Hemlo area can be found at the following link:
The technical content of this news release has been reviewed and approved by Kelly Malcolm, P.Geo., a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Michael E. Schuss
President & CEO
For further information, please contact:
Gambier Gold Corp.
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