Business
Red Lake Gold Inc. Expands Presence in the Red Lake Mining District by Acquiring the Celt Lake Lithium Project
(TheNewswire) Vancouver, British Columbia - TheNewswire - September 27 , 20...
About this update from Red Lake Gold Inc
[{"type":"text","content":"Red Lake Gold Inc. Expands Presence in the Red Lake Mining District by Acquiring the Celt Lake Lithium Project\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire -\n \n \n September 27\n \n \n ,\n \n \n 2023 -\n \n \n Red Lake Gold Inc.\n \n \n (CSE:RGLD)\n \n \n (“\n \n \n Red Lake\nGold\n \n \n ” or the \"\n \n \n Corporation\n \n \n \") is\npleased to announce that it has expanded its presence within the Red\nLake Mining District by acquiring the Celt Lake Lithium Project (the\n“Celt Lake Project”) located near Ear Falls, Ontario.\n \n \n \n \n “\n \n \n Red Lake\nGold believes that last week’s announcement by Beyond Lithium\nregarding the discovery of spodumene within our namesake Red Lake\nMining District is an important regional event and that it validates\nnew exploration opportunities in a well-known precious metals district\nfor critical minerals such as lithium. Our royalty-free, claim-staked\nproject delivers compelling value for Red Lake Gold shareholders and\nprovides the company with important forward-moving optionality to\nexplore our established and now expanded presence in the Red Lake\nMining District for both gold and lithium\n \n \n ,”\nnoted Ryan Kalt, Chief Executive Officer of Red Lake Gold.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n Figure One:\n \n \n \n Celt Lake Lithium Project\n \n \n \n \n \n \n The Corporation’s new lithium exploration project (as\nshown in the above map) involves 500 individual mining claims forming\nan integrated exploration block of more than 10,000 ha.\n \n \n \n \n The Celt Lake Project was acquired directly by the\nCompany on a royalty-free basis through staking with all acquisition\ncosts having already been remitted directly to the Government of\nOntario as license fees. The new project is contiguous with the Ear\nFalls Project held by Beyond Lithium Inc. (see Beyond Lithium Inc.\nnews release, Beyond Lithium Discovers New Spodumene Bearing Pegmatite\nZone at Ear Falls Project in Northwest Ontario, dated September 17,\n2023).\n \n \n \n \n Red Lake Gold believes that its Celt Lake Project may\nprovide the potential for certain synergies with its core Whirlwind\nJack Project, where i...