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Mayo Lake Minerals Announces 2023 Yukon Exploration Plans
$1,400,000 Private Placement Term Sheet Ottawa, Ontario--(Newsfile Corp. - April 17, 2023) - Dr. Vern Rampton, President & CEO of Mayo Lake Minerals Inc. (CSE:
About this update from Mayo Lake Minerals, Inc.
[{"type":"text","content":" $1,400,000 Private Placement Term Sheet Ottawa, Ontario--(Newsfile Corp. - April 17, 2023) - Dr. Vern Rampton, President & CEO of Mayo Lake Minerals Inc. (CSE: MLKM) ('Mayo' or 'Company') is pleased to provide the particulars of the Company's 2023 exploration plans on three of its top tier properties situated in the Yukon's Tombstone Gold Belt to be funded by a private placement of up to $1,400,000 (Schedule 'A' attached). \"We see a great opportunity to increase shareholder value with the drilling of two priority gold in soil zones at our Anderson-Davidson property; the first over 1.6 km in length and the other over 2.8 km in length. Both zones lie within the 3 by 16 km Anderson Gold Trend where Mayo has identified more than seven gold prospects.\" He continued, \"We also plan extensive trenching at our Carlin-Roop Silver project in the Keno Hill Silver District (KHSD) with the objective of discovering the in-rock source of grabs[1] assaying up to 3,994g Ag/t along an expanded silver in soil anomaly where all soils ran at ≥ 30g Ag/t. The Keno Hill District hosts many narrow intercepts of very high-grade silver that are likely to be exposed and sampled with a well planned trenching program. The veining that is most typical of the KHSD is often eroded and washed away by diamond drilling.\" Dr. Rampton added, \"We are also planning further exploration at our Trail-Minto property which lies close to Banyon Gold's AurMac project where intrusion related veining (sheeted) is reported to be common. Victoria Gold's Eagle deposit Sitka Gold's RC deposit and Snowline Gold's Rogue Project are three similar deposits within the Tombstone Gold Belt. Banyon Gold has staked to the edge of Trail-Minto on its western boundary.\" *See Figures 1 and 2 for the location of Mayo's properties relative to others in the KHSD. The Anderson Gold Trend (AGT) consists of a 16 km+ by 3 km long belt characterized by gold placer creeks, including Owl, Anderson, Steep, a number of unnamed creeks; the Dawn Gulch drainage basin; and four identified gold prospects where linear gold in soil anomalies (zones) are present (Figures 3 and 4). Mayo has delineated over 13,000m of linear soil anomalies (zones and subzones) with values of up to 527, 272, 142 and 87ppb Au on each of the four prospects (Table One) by the end of 2022. Dawn Gulch warrants soil samplin...