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Greencastle Options Historic Mayflower Gold Property near Rainy River

Dec 2, 2020

Greencastle Resources Ltd. has announced the company has entered into an option agreement to earn an undivided 100% interest in the Mayflower Gold Property 35 km west of Atikokan.

The Mayflower property consists of 64 claims covering the historic Mayflower gold mine workings in the emerging Rainy River - Atikokan gold district. Historic work between 1899 and 1928 resulted in the sinking of a 30 metre shaft and approximately 50 metres of underground workings on two levels. Grab samples collected by the Ontario Department of Mines in 1981 returned values ranging from nil up to 0.95 oz/t gold and 5.17 oz/t silver. Additional historic exploration included about 1,000 metres of near-surface drilling in 12 holes. The Mayflower has seen little modern exploration and has excellent infrastructure, located close to the former iron ore mining town of Atikokan, some 200 km west of Thunder Bay.

Anthony Roodenburg, CEO of Greencastle commented, “We are excited to add another strategic gold project to our mineral portfolio in Ontario and Nevada. The Mayflower has seen limited modern exploration for a variety of reasons. The Property's location in the prolific Rainy River – Atikokan region suggests there may be tremendous exploration upside.”

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