Holds 1,084 Claims In Prolific Red Lake Geologic District Of Ontario
Signature Resources Ltd. (TSXV: SGU) has significantly increased its land position at its Lingman Lake Project within in the prolific Red Lake geologic district in north-western Ontario.
The previously held claims, excluding the 18 held patented claims, of 604 has been increased to 1,066 claims. When added to the four full patent claims and 14 mineral rights patented claims held, Signature now holds a total of 1,084 claims (20,124 hectares).
Chief Geologist, Walter Hanych, said the updated claim package covers a huge land holding defined by a near 30 km E-W strike distance and 202 sq, km of highly prospective mineral potential.
He said the Signature team is excited with its plans to commence a significant regional exploration programme commencing in the northern spring of 2021. The programme will be focused on following-up on previously completed regional exploration work identifying and unlocking multiple high-potential regional drill targets throughout its massive land package.
“The addition of 462 claims to Signature’s Lingman Lake property, which cover complex structural domains beyond the all-important North Contact, has enhanced the district scale potential of the Lingman Lake land package,” Mr Hanych said.
“We look forward to undertaking regional and targeted exploration programs to assess this potential in the up-coming field season.”
Meanwhile, the company continues preparations to commence its 2,500r 2021 northern winter drill programme in early March. The programme is focused on expanding the known zone of historic mineralisation towards the west and to depth.
The Lingman Lake gold property hosts an historical estimate of 234,684 oz of gold (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5m shaft, and three-levels at 46m, 84m and 122m depths.