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Avidian Gold to Acquire 100% of the Fish Creek Gold Property Located Adjacent to Fort Knox Gold Mine and Gil Deposit
TORONTO, ONTARIO / ACCESSWIRE / June 1, 2020 / Avidian Gold Corp. (" Avidian " or the " Comp...
About this update from Avidian Gold Corp.
[{"type":"text","content":"Avidian Gold to Acquire 100% of the Fish Creek Gold Property Located Adjacent to Fort Knox Gold Mine and Gil DepositTORONTO, ONTARIO / ACCESSWIRE / June 1, 2020 / Avidian Gold Corp. (\"Avidian\" or the \"Company\") (TSXV:AVG) is pleased to announce that it has agreed to terms and signed a Binding Letter of Intent (\"LOI\") with Keltic Enterprises Inc. (\"Keltic\") to acquire a 100% interest in the Fish Creek gold property. The Fish Creek gold property is a State of Alaska mineral lease totaling 418 hectares (1032 acres) and is located 6.5 km east of Kinross Gold's Fort Knox Gold Mine and immediately west of Kinross's Gil deposit (Figure 1) in the Fairbanks Mining District. Please note: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.David Anderson, Chairman and CEO of Avidian states: \"The acquisition of the Fish Creek project is a continuation of our plan to acquire additional properties in the Fairbanks Mining District and Fort Knox area in particular. This is a prolific gold district that lends itself to favourable metallurgy through heap leaching of oxidized mineralization. We have seen oxidation profiles similar to Fort Knox in mineralization identified on our Amanita prospect located 5.5 kilometres south of the Fort Knox pit and anticipate a similar situation at Fish Creek. We look forward to continuing exploration at Amanita and initiating exploration at Fish Creek this summer.\"Figure 1 - Fairbanks Mining DistrictThe Fish Creek project has potential to host both lode and placer gold deposits due to its shared regional geology and down-slope location from both Kinross Gold's Fort Knox mine and their Gil project. The Fish Creek property has been primarily explored for placer gold but intrusive bodies interpreted from geophysics are evident on the property. Lode gold deposits in the Fairbanks Mining District are typically associated with intrusive events.Historical placer gold production from the Fairbanks Mining District is estimated to be approximately 8 million ounces while lode gold production from the Fort Knox gold mine alone has recently surpassed 8 million ounces as announced by Kinross Gold on October 19, 2019 (kinrossworld.kinross.com).The Fish Creek property has excellent road access and is located on a drainage system tha...