- Trillium Gold Mines (TGM) has acquired all of the rights and title to the Panama Lake Property held by St. Anthony Gold Corp
- St. Anthony Gold has assigned all its rights and obligations to Trillium Gold
- The Panama Lake Gold Project strategically extends Trillium Gold’s dominant contiguous foothold along the Confederation belt by 9,882 hectares
- Trillium Gold Mines Inc. is engaged in acquiring, exploring and developing mineral properties
- Trillium Gold Mines Inc. is up 2.083 per cent, trading at $0.245 at 10:08 AM ET
Trillium Gold Mines (TGM) has acquired all of the rights and title to the Panama Lake Property held by St. Anthony Gold Corp.
The Panama Lake Gold Project, which is about 80 kilometres from Kinross Gold’s LP Fault Zone – with which it shares the same structural trend – strategically extends Trillium Gold’s dominant contiguous foothold along the Confederation belt by 9,882 hectares.
St. Anthony Gold has assigned all its rights and obligations under the original option agreement to Trillium Gold.
In addition, Benton Resources Inc. has agreed to register 100 per cent of the property’s title to Trillium Gold while retaining its 50 per cent ownership interest in the property until Trillium Gold fulfils its option to earn 100 per cent interest.
“With the recently completed acquisition of the Eastern Vision properties, the Panama Lake acquisition brings Trillium Gold’s consolidated land package along the Confederation Belt to over 58,400 hectares, bound by the Red Lake and LP Fault structures, positioning it as one of the most prospective exploration projects in the heart of the Red Lake mining district,” said Russell Starr, President & CEO of Trillium Gold.
Trillium’s geological team has commenced early exploration work while permit applications for drilling and trenching are underway and are expected to be received in early summer 2022.
The company has planned an initial 6,000 metres of drilling throughout the project area on targets that have been systematically researched, prioritized and deemed drill-ready.
In keeping with the terms of the purchase agreement, Trillium Gold paid St. Anthony Gold C$500,000 in cash and issued 1,000,000 common shares in the capital of Trillium Gold.
Trillium Gold Mines Inc. is a company engaged in acquiring, exploring and developing mineral properties in the Red Lake Mining District of Northern Ontario.
Trillium Gold Mines Inc. is up 2.083 per cent, trading at $0.245 at 10:08 AM ET.
