CALGARY, AB, March 30, 2022 /CNW/ - Huntington Exploration Inc. announces that it has completed its previously announced acquisition of Lago de Oro SA de CV and its El Grande Gold. | March 30, 2022
Huntington Announces the Closing of the Upsized Brokered globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
Cal Everett Announced as Advisor to the Board Figure 1 Winora property location map. Figure 2 Plan map of the Lingman Lake gold zone structures (also see Figure 3) projected onto the Ontario Department of Mines Geological Map M2511, showing the distance from their eastern-most location relative to the western Winora claim boundary. Figure 3 Simplified Vertical Cross Section (section 12400E, looking west) of the 3 main gold-bearing structures (purple) and showing the relationship to the intrusive Quartz Feldspar Porphyry (orange). Source: Signature Resources – NI 43-101 Technical Report on the Lingman Lake Gold Property dated January 31, 2020. Figure 4 3D model of Lingman Lake Gold Zone - oblique view looking north-northeast (adapted from Signature Resources). CALGARY, Alberta, May 04, 2021 (GLOBE NEWSWIRE) Huntington Exploration Inc. (TSX.V – HEI) (the “Company” or “Huntington” announces that it has entered into a letter of intent to purchase 100% of 17 patented mining claims located in the District of Kenora, Northern Ontario. The Winora property is located 500 m east of the historical Lingman Lake Gold Mine, developed in the late 1940’s that, for a variety of reasons never reached commercial production. Huntington will issue 4.0 million shares and a 2% NSR to the vendor for 100% ownership of the property subject to the approval of the TSX-Venture Exchange. The transaction is subject to multiple conditions, including approval of the TSX Venture Exchange, preparation of a definitive agreement, and closing conditions customary for transactions of this nature. About the Winora Property The 17 patented mining claims (both surface and mineral rights) shown on Figure 1 comprising the Winora property covering an area of 353.5 ha were originally staked in 1945 by Winora Gold Mines. The property is located 325 km north of Red Lake, Ontario. Access roads and power lines are currently under construction into the area. There is no documented history of recent exploration on the Winora property over the past 50+ years. The Lingman Lake gold deposit is located on the adjacent property (to the west) currently held by Signature Resources (“Signature Resources Ltd.”). Historic Background of the Lingman Lake Gold Deposit Three historical reports of estimated resource studies for the Lingman Lake Gold deposit are reported in the public domain. Although none are compliant with National Instrument 43-101, they do confirm significant exploration potential. In a November 1948 Report to the shareholders of Lingman Lake Gold Mines the dimensions and grade of the mineralized structures east of an N-S dividing diabase dike were reported as follows: ZoneLength (m)Width (m)Grade (g/tonne) North4271.7735.9 Central4881.336.62 South4882.1610.29• Based on underground sampling A 1989 resource estimate based on historic drilling and underground sampling resulted in an inventory of 1.06 million tonnes grading 6.8 g/t Au at a cut-off grade of 2.73 g/T Au over a minimum 1.5 m width to a depth of 180 m (the lowest development level is 122 m). This estimate is not compliant with NI 43-101 requirements and is offered as historic reference only. Compilation of historic drill hole data and geological modeling present in the public domain, indicates that the North, Central and South mineralized structures of the Lingman Lake gold deposit, are all open on strike to the east, beyond the existing underground development, as shown by the following drill hole results. Drill Hole Num.Grade in g/ tonneIntercept in meters 86-236.0112.587-165.1711.2788-395.569.8788.147.595.54 Data reported in Signature Resources – NI 43-101 Technical Report on the Lingman Lake Gold Property dated January 31, 2020. More recent drilling by Signature Resources confirms the presence of the historical grades in the three gold bearing zones east of the diabase dike cross cutting the mineralization in the mine, as follows: ZoneDrill Hole Num.Grade in g/ tonne Intercept in metersNorth18-036.844North18-0517.878Central A18-096.559Central B18-094.214South18-0912.23South18.18.5614Signature Presentation Spring 2021 Based on this public information, Huntington estimates that the eastern strike extension of the gold mineralization found and measured in the Lingman Lake underground development and shown in the more eastern drilling of the Lingman Lake gold deposit are located approximately 500 m to the west of the Winora property. The Winora property is surrounded by mining claims held by Signature Resources (TSX-V SUG) who have been exploring the adjoining claims to the Winora property since 2013 and are currently completing a 10,000 m drilling program (Signature News release April 9, 2021). Bryan Wilson, President and CEO stated, “We are excited to acquire the Winora property, located next to and expected to host the extension of the Lingman Lake gold mineralization, a significant, partially developed gold resource in Northwest Ontario. The high-grade Lingman Lake orogenic gold mineralization is hosted in multiple quartz veins following the contacts of a series of east-west trending quartz feldspar porphyry dykes which are all open to the east and at depth. The western Winora property boundary is projected to be approximately 500 m from the easternmost indications of the Lingman Gold Mine mineralization found in the North, Central, and South Zones as illustrated in the accompanying graphics. This favorable geology does not stop at the property boundary.” Huntington announces Cal Everett as Advisor to the Company Huntington Explorations is also pleased to announce that Mr. Cal Everett, will be advising the company on matters relating to corporate development. Mr. Everett is a geologist with more than 14 years of surface and underground exploration experience with senior mining companies. He moved to the financial sector in 1990, and spent 12 years with BMO Nesbitt Burns focused on resource equities, and seven years with PI Financial Corp. in senior resource institutional sales and capital markets. From 2008 to 2015, he was President and Chief Executive Officer of Axemen Resources Capital. Mr. Everett holds a Bachelor of Science degree in Economic Geology from the University of New Brunswick. Current positions held are President and CEO of Liberty Gold Corp. and an advisor to New Found Gold. ABOUT HUNTINGTON Huntington is dedicated to the application of good geoscience in an environmentally responsible manner. We practice the policies and procedures of the E3 Program developed by the Prospectors and Developers Association of Canada. We are planning our 2021 exploration program on our Quartz Lake Project. ABOUT THE QUARTZ LAKE PROJECT (Red Lake Gold District, Ontario) Huntington’s Quartz Lake Project claims previously referred to as the Birch-Uchi Project, cover 11,280 hectares in 6 separate claim blocks in the Birch-Uchi region east of Red Lake. Field work will commence with a detailed gold in till and geochemical sampling program following on the recent successful application of the Geological Survey of Canada and Teck protocol, by Prosper Gold on their contiguous Golden Sidewalk Project property. The Prosper exploration work has successfully demonstrated the potential of the ‘Red Lake – Dixie’ exploration model to be applicable in this area. Regionally, gold mineralization has been found follow a formational magnetic signature that parallels the regional Balmer – Narrow Lake Assemblage (Confederation Group) unconformity. Prosper Gold has announced the recovery of a significant numbers of pristine (rough and angular) gold grains recovered from systematic till samples and are currently in the midst of a 10,000 m drill program. The formational magnetic feature and the projected unconformity highlighted by Prosper trends onto Huntington’s Key-Hole Claims, where a till sampling program will commence as soon as field conditions permit. Bruce Durham, P.Geo, a Qualified Person (“QP”) under NI-43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the sci
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Huntington Exploration Inc. ( Companyâ or â Huntingtonâ) announced today it has added to the Companyâs Birch-Uchi Project land holdings in the Red Lake Gold District through an armâs length mineral property acquisition (the âAcquisitionâ). Aggregate land holdings have been increased by 184 claims or 3,855 square kilometers to a total of 11,280 square kilometers. ACQUISITION TERMS Huntington has acquired by way of a mineral property acquisition agreement with an armâs length third party in exchange for a cash payment of $10,520 for recording costs and nominal expenses only, with no issuance of common shares or royalties. THE PROPERTY HIGHLIGHTS These additional claims cover favorable geology and some known mineral showings surrounding the companies Birch-Uchi Property announced on January 15, 2021, which is located midway between Red Lake and the Springpole Gold Project approximately 80 kilometers to the northeast. Huntingtonâs claims are contiguous with Great Bear Resourcesâ Red Lake North project and Prosper Gold Corpâs Golden Sidewalk project.