CSE : GXP | FRA : HW3 | OTC : GXPLF
CSE : GXP | FRA : HW3 | OTC : GXPLF
CSE : GXP | FRA : HW3 | OTC : GXPLF
OWNERSHIP : Greenridge 100% – Claims acquired in three transactions between 2019-2021. In September 2021, the Company optioned the project to First Mining Gold. Corp., which owns the nearby Springpole gold deposit. First Mining Gold can earn an initial 70% interest over three years by making cash payments totaling $550,000, issuing $400,000 in common shares of First Mining Gold to Greenridge, and incurring $550,000 in exploration.
SIZE : 499 claims in three separate claim blocks. Combined land package totals 10,614 ha.
LOCATION: Red Lake Mining District in northwestern Ontario, ~60km east of the town of Red Lake.
Red Lake mining district has long been one of the most prolific long-term producers of gold in Canada with historical production exceeding 28 million ounces. With the significant increase in the gold price, it has attracted significant exploration resulting in several prominent discoveries, including Great Bear’s Dixie project, currently being acquired by Kinross.
The Vixen claims are within close proximity to First Mining Gold’s Springpole deposit, which hosts an Indicated mineral resource estimated at 139.1 million tonnes containing 4.67 million ounces of gold and 24.19 million ounces silver at an average grade of 1.04 g/t Au and 5.4 g/t Ag. (Source: SRK Consulting (Canada) Inc. in “Preliminary Economic Assessment Update for the Springpole Gold Project, Ontario, Canada” dated June 6, 2017 (Arseneau, et al).
With the completion of Vixen North option agreement with First Mining Gold, this sub-project has been prioritized for exploration.
Greenridge 2019 prospecting, mapping and sampling program at Vixen North returned values as high as 23.9 g/t Au and 6.1 g/t Ag from four rock samples.
A more extensive follow-up helicopter supported mapping and sampling program was completed in 2020 provided valuable data used to reinterpret the historical Vulpen Zone at Vixen North. Gold Values of up to 22.73 g/t AU were identified, along with multiple iron formation associated gold occurrences sampling up to 7.21 g/t Au., and NNW-trending shear zone coincident for much of the Vulpin Zone.
The Echo Zone discovered 1.5 km east of the Vulpin Zone is hosted by a feldspar porphyry crosscut by a shear zone up to 100m wide and containing multiple quartz veins up to 1m wide.
Rock samples collected from outcrop and historical trenches at the Dickenson Zone ranged up to 17.7 g/t Au.
A high-resolution helicopter-borne magnetic and VLF-EM survey was completed to better define drill targets at Vixen North.
National Instrument 43-101 Disclosure
The technical information on this web page has been reviewed and approved by Sierd Eriks, P.Geo. (Retired), who is a Qualified Persons in accordance with the Canadian regulatory requirements set out in NI 43-101. Readers are cautioned that some of the technical information described on this web page is historical in nature; however, the historical information is deemed credible and was produced by professional geologists/geoscientists in the years discussed.
DEVELOPING A CLEAN ENERGY FUTURE
CSE : GXP
FRA : HW3
OTC : GXPLF