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Golden Peak Options Additional Claims at the Atikwa Lake Property in the Thunder Bay Mining District
(via TheNewswire) Vancouver, BC / TheNewswire / June 20, 2017 - Golden Peak Minerals...
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[{"type":"text","content":"Golden Peak Options Additional Claims at the Atikwa Lake Property in the Thunder Bay Mining District(via TheNewswire)\n\n \nVancouver, BC / TheNewswire / June 20, 2017 - Golden Peak Minerals Inc. (TSX-V: GP; US: GPKMF) (\"Golden Peak\" or the \"Company\") is pleased to announce that it has entered into an option agreement to acquire a 100% interest in 10 mineral claims totaling 2,201 hectares in the Atikwa Lake area, Kenora Mining District, Ontario. \n\n\n \nWes Hanson P.Geo., President and CEO notes: \"We are very pleased to expand the footprint of the Atikwa Lake Project in northwest Ontario. The project is 100 km north of Newgold's Rainy River Gold Project (6.5 M ozs), within the Rowan Lake Greenstone Belt, an emerging exploration district that is highly prospective for both gold and base metal mineralization. The Cameron Gold Deposit (First Mining Finance Corp.) is 15 km to the south with a near surface measured and indicated resource approaching 500,000 ounces with an average grade of 2.5 g/t gold. The past producing Maybrun Gold Copper Mine is centered within the assembled land package. In 2011, drilling near the Maybrun Mine intersected broad intervals of near surface gold mineralization including 2.4 g/t gold over 53.0 metres and 4.1 g/t gold over 16.0 metres. We believe Atikwa offers an excellent opportunity to discover additional, near surface gold and base metal mineralization. We are currently reviewing the historical data to identify and prioritize targets for follow up field work.\" \n\n\n \nUnder the terms of the agreement in order to earn a 100% interest in the property, the Company must issue a total of 185,000 common shares and pay an aggregate of $130,000 over a three year period. The optionors will retain a 2% net smelter return royalty on the property, half of which can be purchased by the Company for $1,000,000.\n\n\n \nFollowing is a location map to the properties: http://goldenpeakminerals.com/projects/atikwa-lake-property.\n\n\n \nActive mining operations at the Maybrun Gold-Copper Mine ceased in 1974. Opiwica Explorations Inc. (\"Opiwica\") acquired the property in 2005 and from 2005 through 2010, Opiwica completed 24,748 meters of diamond drilling, largely focused on identifying a near surface mineral resource at the Maybrun mine. In 2009, Opiwica estimated an indicated and inferred mineral resource at...