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Stakeholder Receives Approval for Option Agreement on Goldstorm Property in Elko, Nevada
Toronto, Ontario--(Newsfile Corp. - May 9, 2017) - Stakeholder Gold Corp. (TSXV: SRC) ("Stak...
About this update from Stakeholder Gold Corp.
[{"type":"text","content":"Stakeholder Receives Approval for Option Agreement on Goldstorm Property in Elko, NevadaToronto, Ontario--(Newsfile Corp. - May 9, 2017) - Stakeholder Gold Corp. (TSXV: SRC) (\"Stakeholder Gold\" or the \"Corporation\") is pleased to announce it has received approval from the TSX Venture Exchange for the previously disclosed property option agreement (the \"Agreement\") with Mountain View Gold Inc. (\"MVG\") and Mountain View Gold Corp. (\"Mountain View\"), a wholly-owned subsidiary of MVG. Pursuant to the Agreement Mountain View has granted the Corporation an option to earn up to 100% interest in Mountain View's Goldstorm property (the \"Property\"), located in Elko County, Nevada. Terms of the agreement are as reflected in the Company's prior press release dated March 8th, 2017. The PropertyThe Property is situated in the Snowstorm Mountains Mining District in the western part of Elko County, Nevada. The Property is located approximately 17 km northwest of Klondex's Ken Snyder (\"Midas\") underground gold mine, approximately 18 km east-northeast of Newmont's Twin Creeks gold mine and approximately 25 km northeast of Barrick Gold's Turquoise Ridge mine. A National Instrument 43-101 technical report on the property has been filed on SEDAR and is available on the Stakeholder Gold website at: http://stakeholdergold.com/goldstorm-project/ni-43-101-technical-report/The Property contains numerous historic prospects, and the earliest known exploration dates to 1907. There was no activity on the Property between the 1930's and 1980. An aeromagnetic survey, along with trenching, was conducted in the 1980's. Drilling exploration commenced in 1989 and was conducted by various companies through 2000. Geologic mapping was published in 1993. Mexivada acquired the Property in 2007, and West Kirkland Mining leased the Property from Mexivada in 2010.In 2010, West Kirkland Mining drilled two core holes on the Property. Drill hole WG-1001 is located on the Clayton Veins system, situated about 1 km south-southwest of the more extensively explored Northern zone. Beginning at 64.4 m depth, the hole intercepted a 2 m vein zone that assayed 5.5 g/t Au, including a 1 m interval @ 9.29 g/t Au and 73 g/t Ag. The Clayton Veins system trends NW-SE and has been tested by only this one drill hole. The parallel Prochnau Veins system, located about 300 m to th...