MMDF Backing To Support Rice Lake Exploration
1911 Gold Corporation (TSXV: AUMB) (OTCQX: AUMBF) has been approved for a C$300,000 grant from the Manitoba Mineral Development Fund (MMDF) to support the 2021 field exploration programme and advance its 100% owned Rice Lake gold exploration properties in Manitoba.
Proceeds from this grant will go directly to fund the ongoing 2021 field exploration programme, which commenced in May with an overall budget of C$1.2 million.
This programme continues to advance six project areas towards discovery, and involves geological mapping, prospecting, outcrop stripping, surficial geochemistry and geophysical surveys, conducted by the company’s Manitoba-based exploration team, comprising 18 geologists and summer student assistants from local universities.
President and CEO, Ron Clayton, said to date in 2021, approximately 5,000 samples have been collected for geochemical and assay analysis. New data from this program will be combined with historical data and the company’s new high-resolution drone magnetic survey data to define targets for the 2021–2022 exploration drilling program commencing in the fall.
The MMDF was launched by the Government of Manitoba in August 2020 with the specific goal of jump-starting mineral and economic development initiatives throughout the province. The MMDF is administered through the Manitoba Chambers of Commerce and aims to support new economic development opportunities that capitalise on existing assets and infrastructure across Manitoba, such as the Company’s True North mine, mill and tailings facilities located at Bissett, Manitoba.
“We are pleased to receive this support from the Manitoba Mineral Development Fund as we advance our Rice Lake projects towards discovery,” Mr Clayton said.
“Gold mining and milling operations have historically provided employment and economic development opportunities in the Bissett region and, with the support of the MMDF and the Government of Manitoba, 1911 Gold will continue to work towards bringing additional growth and prosperity to surrounding communities.”
For further information please visit: https://www.1911gold.com/