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Warrior Gold Announces Acquisition of the Arnold Property in Kirkland Lake Gold Camp
TORONTO / Jul 06, 2021 / Business Wire / Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to announce that the Company has entered i
About this update from Kirkland Lake Discoveries Corp.
[{"type":"text","content":"TORONTO / Jul 06, 2021 / Business Wire / Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to announce that the Company has entered into an agreement with an arm’s length party to acquire a 100% interest in the “Arnold Property”, a 25-claim land package comprising 538 hectares, located less than six kilometres east of the Company’s Goodfish-Kirana project and contiguous to both Agnico Eagle’s Kirkland Lake Project and New Found Gold’s Lucky Strike Project. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210706005213/en/ The Arnold Property is located one and a half kilometres to the north and west of Agnico’s Upper Beaver deposit (1.4 Moz gold (8.0 Mt @ 5.43 g/t Au and 0.25% Cu) probable mineral reserves as of December 2020 and NI 43-101 compliant1), which is being explored with a drill program of 36,500 metres in 2021, following 28,000 metres of drilling in 20202. The property is contiguous with New Found Gold’s Lucky Strike Project on the eastern boundary and borders the past producing Victoria Creek Mine site (historical inferred mineral resource of 134,000 oz gold, (0.82 Mt @ 5.10 g/t Au (2.5 g/t cut-off))3) on the southwest side of the claim group. This mineral resource estimation is considered historic, is not compliant with the standards of NI 43-101 and are not to be relied upon as an indication of mineral potential of the Victoria Creek Mine property. The Arnold Property is hosted in the same rock package as the Upper Beaver deposit, the Blake River mafic volcanics, and is transected by a 5½ km stretch of the Mulven Lake Fault, a deep crustal feature that recent studies by MERC4 (Mineral Exploration Research Centre, a research centre based out of Laurentian University, Sudbury, Ontario) have shown to be potentially as deep as, or a substructure of the Larder Lake Cadillac Break (LLCB). The LLCB is a 250 km long regional structure associated with many of the gold deposits in the Abitibi Gold Belt. Danièle Spethmann, President and CEO of Warrior Gold, stated, “The acquisition of the Arnold Property increases Warrior Gold’s regional upside potential in the Kirkland Lake Gold Camp with additional known mineralized structures and gold showings. The claims are strategically situated contiguous to Agnico Eagle’s Kirkland Lake Project and th...