Manitou Gold Project (100%)

Highlights include:

  • Strategic Manitou Gold Project located in North-western Ontario, Canada; and
  • Exploration potential: Gold mineralisation in the Upper Manitou Lake Area is typical of the Archean Lode Gold deposit model.

In February 2018, the Company executed a Binding Term Sheet to acquire 100% of the issued capital of GNR Minerals Pty Ltd (“GNR”). GNR is a privately-owned Australian mineral exploration company. The Manitou Gold Project tenements held by the Company, located approximately 60km South of Dryden, Ontario, Canada, were reduced to 5km2 during the June 2019 quarter.

Historic exploration was fragmented in the area because of the number of competing exploration companies holding small claim packages in the area. The Project is strategically located in a geologically favourable Archean sub-province that currently contains multiple orebodies containing greater than 1.0 million ounces of gold.