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Golden Pursuit Announces Acquisition of the WT (Myrt Lake) Project Gordon Lake, NWT
VANCOUVER, BC / ACCESSWIRE / November 10, 2020 / Golden Pursuit Resources Ltd. (TSXV:GDP) ...
About this update from Golden Pursuit Resources Ltd.
[{"type":"text","content":"Golden Pursuit Announces Acquisition of the WT (Myrt Lake) Project Gordon Lake, NWTVANCOUVER, BC / ACCESSWIRE / November 10, 2020 / Golden Pursuit Resources Ltd. (TSXV:GDP) (the \"Company\") wishes to announce the acquisition of a new mineral tenure near Gordon Lake NWT historically known as the WT Project. The WT is located approximately 70 kilometres northeast of Yellowknife, on the Cameron River which traverses through the east side of Myrt Lake. The staked claims consist of one Territorial claim covering 200 ha and one Federal mining claim covering 336 ha. This mineral tenure lies just 12 km south of Gordon Lake and will be added to the Company's property portfolio in the south Gordon Lake area. These properties include the former producing Camlaren Mine, the Gordon Lake project also known as Mahe (Kidney Pond), the Burnt Island Mine, West Bay Mine and Argonaut project.The property has a long history of exploration and development. Dome Mines Limited discovered the WT gold showings west of the AP claims in 1938. The WT gold deposit was outlined in 1939 and estimated to contain 25,400 tonnes grading 9.8 g/t Au (this is a historic non 43-101 compliant estimate and should not be relied upon.)Numerous companies since 1938 have optioned or owned the Myrt (WT) property. In 1974, a geological non-compliant resource was estimated at 58,299 tonnes grading 5.3 g/t. Since then, the property has been explored, diamond drilled and trenched to outline a total of 7 gold occurrences. The deepest exploration was completed in 1984 with Ryan Energy Corp completing 10 holes comprising 5,585', averaging 550' per hole. Several high-grade gold intervals were reported.In 1987, Cameron Mining acquired the claims and completed a rehabilitation of the old decline producing 2,152 tons of ore which was processed at Giant Mine in Yellowknife 0f 1992. A total of 736 ounces of gold were produced at a calculated head grade of 0.36 oz/ton.The geology of the area is described as mafic to felsic flows and agglomerates of the Cameron River volcanic belt with conformably overlying metasediments. The MYRT Lake (WT) property is primarily underlain by the Yellowknife Supergroup metasediments of the Burwash Formation comprising predominantly turbiditic sediments, forming a north-trending east-dipping homocline. A silicate iron formation unit comprising amphibole, ga...