Business
Red Lake Gold Inc. Subsidiary Acquires Clarence Stream North Gold Project
Establishes Flagship Gold Project for Alma Gold Inc. - VANCOUVER, BC / ACCESSWIRE / July 27, 2020 / Red Lake Gold Inc. (CSE:RGLD) (FWB:P11) ("Red Lake Gold" or
About this update from Red Lake Gold Inc
[{"type":"text","content":" Establishes Flagship Gold Project for Alma Gold Inc. - VANCOUVER, BC / ACCESSWIRE / July 27, 2020 / Red Lake Gold Inc. (CSE:RGLD) (FWB:P11) (\"Red Lake Gold\" or the \"Corporation\") is pleased to announce that its wholly owned subsidiary, Alma Gold Inc., has acquired the Clarence Stream North Gold Project located in New Brunswick, Canada. \"We are excited to add the Clarence Stream North Gold Project as we believe it advantageously positions our Alma Gold subsidiary as an early-mover in an emerging and up-and-coming gold exploration camp in North America. This underexplored gold-hosting region in southwest New Brunswick is poised to join the ranks of the most active gold exploration camps in Canada based on third-party drill programs announced for the area. Alma Gold - which we are taking steps to spin-out - now provides a robust multi-project gold exploration platform in Atlantic Canada which we believe will benefit our shareholders in the years ahead. In addition, while the first half of the year faced COVID-19-related interruptions, we are looking forward to re-commencing our gold exploration activities throughout the second half of 2020 funded in part by our recent financing that closed earlier this month,\" stated Ryan Kalt, Chief Executive Officer of Red Lake Gold. About the Clarence Stream North Gold Project The Clarence Stream North Gold Project is located in southwest New Brunswick, Canada. The project is comprised of two mineral licenses covering 152 mining claims. The project is situated north of and is immediately contiguous to the Clarence Stream Gold Project being advanced by Galway Metals Inc. (\"Galway Metals\"), and partially covers mineral rights over areas historically held by Galway Metals. Figure 1: Map of the Clarence Stream North Gold Project An online map of the Clarence Stream North Gold Project may be found at: Click Here Galway Metals has recently announced an expanded 5-rig drill program totaling 75,000 meters (see Galway Metals news release dated July 15, 2020) at their adjacent Clarence Stream Gold Project supported in part by their recently closed $17.35 million financing (see Galway Metals news release dated June 25, 2020). The Clarence Stream North Gold Project becomes Alma Gold Inc.'s flagship gold exploration asset and is complimented by the Chambers Settlement Gold Project previously disclos...