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Dixie Gold Inc. Announces 9,907 Acre Expansion of Red Lake Project, Becomes Largest Claim Holder in Dixie Gold District
Dixie Gold Inc. Announces 9,907 Acre Expansion of Red Lake Project, Becomes Largest Claim ...
About this update from Dixie Gold Inc.
[{"type":"text","content":"\n\n\n\nDixie Gold Inc. Announces 9,907 Acre Expansion of Red Lake Project, Becomes Largest Claim Holder in Dixie Gold District\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\nCanada NewsWire\nVANCOUVER, Jan. 14, 2020\n\n\n\nVANCOUVER, Jan. 14, 2020 /CNW/ - Dixie Gold Inc. (TSX VENTURE: DG) (\"Dixie Gold\" or the \"Corporation) is pleased to announce that it has expanded its district-scale exploration project situated in the emerging Dixie Gold District near Red Lake, Ontario. The Corporation has purchased a total of 197 mining claims covering approximately 4,011 ha (9,907 acres) of additional exploration rights, all of which are contiguous to Dixie Gold's recently announced Red Lake Project (https://dixiegold.ca/redlake). \nAs a result of the transaction announced today, Dixie Gold has become the largest publicly-traded mineral claim owner in the developing Dixie Gold District. \n\"The magnitude of our claim position in the emerging Dixie Gold District is amplified by today's announcement. The addition of nearly 10,000 acres of incremental exploration potential is of a scale that mirrors the standalone size of many junior exploration projects in their totality. In the case of Dixie Gold, we now have more than 62,414 acres of mineral rights in the area making us the largest tenure holder in the Dixie Gold District. In relation to our tight share structure, being 25,662,187 shares currently outstanding, an investor gains exposure to the equivalent of one full acre of mining exploration rights in the Dixie Gold District for approximately 411 common shares of the company, which sets up what we believe to be one of the most compelling ratios of underlying mining rights per share outstanding of any exploration company in any Ontario mining camp,\" stated Ryan Kalt, Chairman and Chief Executive Officer of Dixie Gold.\nExpansion of the Red Lake Gold Project\nThe Red Lake Gold Project held by Dixie Gold represents a district-scale exploration opportunity. The Corporation believes the project holds both gold and base metal (VMS) exploration opportunities. \nThe expansion o...