JSHG acquired the gold and silver mine as it owns contiguous mineral claims to the mine and the patent owner defaulted on the taxes, placing the mine under 100% JSHG ownership
JSHG acquires The Champion Gold Mine. (Credit: István Mihály from Pixabay)
Joshua Gold Resources Inc. (“JSHG” or “Joshua”) (OTC Pink: JSHG) is pleased to announce that it has acquired the Champion Mine (UTM, NAD 83, Easterly 404799.37, Northerly 5513456.90) in the Kenora region of Northwest Ontario in Haycock Township.
JSHG acquired the gold and silver mine as it owns contiguous mineral claims to the mine and the patent owner defaulted on the taxes, placing the mine under 100% JSHG ownership.
The Champion Mine was discovered in 1898. Historical records are sketch but in 1926 231 tons of ore was milled producing 107 ounces of gold and 15 ounces of silver.
Fred Sharpley, P.Geo, QP (Qualified Person) describes the Champion Mine’s geology:
“The Haycock Gold Property consists of northeast trending Island Lake Quartz Diorite and mafic volcanics to the south.
Shearing at 030 degrees later occurred in both rock types with banded quartz-tourmaline gold mineralization.
The property consists of three mineralized shear zones, the Silverman, Treasure and East, located 9 km east of Kenora on Highway 17 in the Quartz Diorite over a strike length of 600-1000 meters.
The Champion Mine Shaft on the Silverman Zone was sunk to a depth of 235 feet with an inclined shaft, with levels at 120 and 220 feet. Six diamond drill holes in 1945-46 totaling 230 meters returned gold values over a length of 14 feet assaying 0.40 oz/t, 0.56 oz/t over 11 feet: 0.48 oz/t over 7 feet and 0.176 oz/t over 1.5 feet.
It is recommended to carry out mechanical stripping, surface check sampling followed by 1000 meters of diamond drilling on the three zones.”
This month, JSHG’s geology team will be sampling the shaft on the Champion Mine and will release the findings.
Source: Company Press Release