Gold Lakes, an exploration stage BlueSky company that specializes in acquiring and developing mining assets, has acquired 100% of the property assets from Flex Mining Ltd known as the “Big Monty”.
The "Big Monty" property consists of 72 mining claim units totaling 2,846 acres and is located in the prolific Abitibi Greenstone Belt region, in the Frecheville township of Ontario Canada.
The Big Monty property is near existing producing gold mines, and borders property owned by St Andrew Goldfields Ltd. who was recently bought for $178 million CAD by Kirkland Lake Gold Inc.
Gold Lakes Corp plans to develop and execute the current work plan for the "Big Monty" which consists of extensive geophysical work and a minimum 2000 meter drill program. An Airborne Survey has noted a variety of features characteristic of gold within the Big Monty property.
The Airborne Survey will be used in coordination with the planned geophysical survey and surface geological mapping to determine mineralization targets for future prospecting and conducting the drilling program.
Further updates to shareholders on this will occur in the upcoming weeks.
Gold Lakes Corporation strategy is to identify and acquire prospective properties in well-mineralized mining areas and advancing these properties toward making new discoveries within the Abitibi Greenstone Belt. For slightly over a century, the legendary Abitibi-Greenstone belt has produced hundreds of billions of dollars’ worth of mostly gold, silver, copper and zinc.
Full details in regards to the transaction can be found in the 8-K filing with the United States Securities and Exchange Commission filed on March 22, 2016 and on the company website.
Gold Lakes Corp. is an exploration stage company that specializes in acquiring and developing mining assets. The Company primary asset is known as the "Big Monty" property, located in the prolific Abitibi Greenstone Belt region, in Ontario, Canada.
The Big Monty property is bordered by producing gold mines and is situated within the Procupine-Destor Fault Zone "PDFZ" and Larder Lake Cadillac Fault Zone.