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Golden Peak Acquires Lac LaPointe Gold Project in the Urban Barry Gold Camp, Quebec
(via Thenewswire.ca) Vancouver, BC / TheNewswire / February 17, 2016 : Golden Peak Mi...
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[{"type":"text","content":"Golden Peak Acquires Lac LaPointe Gold Project in the Urban Barry Gold Camp, Quebec(via Thenewswire.ca)\n \n \nVancouver, BC / TheNewswire / February 17, 2016: Golden Peak Minerals Inc. (TSX-V: GP) (the \"Company\") is pleased to announce that it has entered into an agreement with an arm's length vendor to acquire a 100% interest in a the Lac LaPointe Gold Project, located in the Urban Barry Gold Belt, 12.5 km west of Bonterra Resources' Gladiator Gold Project, Quebec.\n\n \n \nThe Lac LaPointe Gold Project covers an area of ~1120ha, 16km southwest of Oban Mining's Windfall Lake Deposit, which has a an estimated mineral resource of 748,000 ounces of gold at 8.42 g/t gold in the indicated category, and 860,000 ounces of gold at 7.62 g/t gold in the inferred category.*\n\n \n \n* Source: Oban Mining Corporation website - SRK (Canada) November 2014 Technical Report. These estimates of gold resources are sourced from publicly available materials and are not located on the Urban Barry Property. The Company has not undertaken any independent investigation of the production/resource estimates, nor has it independently analyzed the publicly available results.\n\n \n \nClaims at Lac Lapointe, which cover the westernmost extent of the greenstone unit hosting the aforementioned Windfall Lake Deposit, have seen only 'first pass' historic exploration and the Company intends to apply its proven exploration strategy at Gladiator to this new prospective ground. \n\n \n \nIt is the Company's belief that preliminary diamond drilling at Lac LaPointe by Onyx Resources in 1986 and Omega Exploration in 1987 failed to explore the most prospective rocks in the project area, namely the greenstone units that host all of the known gold mineralization in the Urban Barry. Nevertheless, anomalous gold values were returned from historic drilling. \n\n \n \n\n\n-Hole SOZ-86-1 encountered 5cm of 170ppb gold at a depth of 72.40m, associated with pyritic mineralization. \n\n\n\n-Hole SOM-86-2 encountered 30cm of 480ppb gold at a depth of 211m, associated with pyritic mineralization and 1.00m 75ppb gold at 279m, associated with massive chalchopyrite\n\n\n\n-Hole SOM-86-3 encountered 1.65m1f anomalous gold mineralization at a depth of 17.68m, including 30cm of 50ppb gold, associated with pyritized quartz veins.\n\n\n\n \n \nThe Company can earn a 100% interest by i...