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Taku Gold Acquires High-Grade Gold Project in White Gold District, Yukon
VANCOUVER, British Columbia, July 08, 2019 (GLOBE NEWSWIRE) -- Taku Gold Corp. (CSE: TAK; OTCQB: TAKUF) (“Taku” or the “Company”) announces that it has acquired
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[{"type":"text","content":" VANCOUVER, British Columbia, July 08, 2019 (GLOBE NEWSWIRE) -- Taku Gold Corp. (CSE: TAK; OTCQB: TAKUF) (“Taku” or the “Company”) announces that it has acquired the high-grade Portland Gold Project (the “Project”) located in the White Gold District, Yukon, Canada. The project lies along a series of parallel northwest trending gold bearing structures including the Gold Run Fault. A 2010 trenching program across one of these structures identified a high-grade zone averaging 97.2 g/t gold over 7.0m. Six of seven samples from this trench returned values ranging from 27.0 g/t gold to 455.8 g/t gold. The acquisition of the Portland Gold Project advances the Company’s strategy to capitalize on high-value exploration opportunities within the larger White Gold District where the Company is one of the largest land holders behind White Gold Corp. The Company’s other key properties in the greater White Gold District include Sonora Gulch, Sulphur, Quartz, Rosebute, Lucky Joe, Korat, Wounded Moose, and Bishop properties (See Map). The Portland Gold Project covers an area of approximately 1,525 Ha and is road-accessible through a network of summer roads from Dawson City, Yukon which lies 42 km away. The Project is situated within the White Gold District and the Klondike placer area with extensive historic placer mining estimated to have exceeded 20 million ounces of gold. Notable projects within the greater White Gold district include White Gold Corp’s Saddle and Arc deposits located 75 km to the southeast, Newmont Goldcorp’s Coffee project located 100 km to the south and Golden Predator Mining Corp.’s Brewery Creek Mine located approximately 35 km to the northeast. The 2010 trenching program discovered significant free-milling gold in four of six trenches. The gold occurs in quartz veins cutting altered schist. In 2011 seven NQ2 diamond core holes were drilled on the Project for a total of 975 m. Five of the seven holes had significant gold mineralization even with only select parts of each hole being assayed. Seven drill holes targeted northwest trending structures with less than 11% of the drilled meters actually sampled. The sample intervals were 1m or less and all samples were hydraulically split 2-inch diameter core. Recommendations for further work outlined in the 2011 Assessment Report include deeper auge...