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1911 Gold Continues Strategic Consolidation of the Rice Lake District
1911 Gold Continues Strategic Consolidation of the Rice Lake District Canada Ne...
About this update from 1911 Gold Corp.
[{"type":"text","content":"\n \n \n \n 1911 Gold Continues Strategic Consolidation of the Rice Lake District\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Aug. 24, 2021\n \n /CNW/ -\n \n 1911 Gold\n \n \n Corporation\n \n (\"1911 Gold\" or the \"Company\") (TSXV: AUMB) (OTCQX: AUMBF) is pleased to announce that it has signed definitive agreements for the acquisition of 100 per cent interest in two exploration properties located approximately 20 kilometres east of\n \n Bissett, Manitoba\n \n , site of the Company's True North Complex.\n \n \n \n \n \n \n \n \n \n The Palomar Lake Property, held by a consortium of three local prospectors (the 'CGW Consortium' or 'CGW'), comprises 15 contiguous mining claims, totalling 1,073 hectares, that adjoin the Company's\n \n Central Manitoba\n \n and Rice Lake properties. These three properties, thus consolidated into one contiguous claim block for the first time in history, extend continuously along the Rice Lake greenstone belt for close to 90 kilometres and include highly prospective geology, crustal-scale structures, and numerous past-producing mines and significant gold showings, in addition to the Company's active exploration projects.\n \n \n The terms of the Palomar Lake Property transaction set out in the definitive agreement include:\n \n \n \n 1911 Gold will acquire 100 per cent of the Palomar Lake Property\n \n \n 1911 Gold will issue, subject to TSX-V approval, 180,000 common shares to CGW\n \n \n 1911 Gold will make a cash payment of\n \n $90,000\n \n to CGW\n \n \n \n The Pleiades Property, held by Pleiades Mineral Exploration Ltd. ('Pleiades'), comprises a single mining claim (105 hectares) that adjoins, and consolidates, the Company's Moore Lake (Angelina) property. With this acquisition, the Company's 100 per cent-owned land position in the Rice Lake belt now consists of a single claim block totaling more than 58,600 hectares in area.\n \n \n The terms of the Pleiades Property transaction set out in the definitive agreement include:\n \n \n \n 1911 Gold will acquire 100 p...