Home > News > Kingsview Minerals Closes...

Kingsview Minerals Closes Strategic Land Acquisition in Wawa

Oct 19, 2022

Kingsview Minerals Ltd. has announced that RT Minerals received the necessary regulatory approvals, which allowed Kingsview to close the acquisition of the Norwalk Project ("Norwalk" or "Acquisition"), located between the Kingsview's Hubcap Project (east and west properties) and Red Pine Exploration's Wawa Gold Project. 

On September 13, 2022, Kingsview announced the acquisition of the Norwalk Project which consists of 33 claims covering approximately 460 hectares (See Figure 1). The Norwalk Property is known to host indications of strong gold potential with RT Minerals reporting in a NI 43-101 compliant report "Technical Report On the Norwalk Property", July 15th 2020 ("NI 43-101", J. Garry Clarke, P.Geo, Clark Exploration Consulting) grab sample assays from different locations on the property, including gold values ranging from 0.23 grams per tonne ("g/t") to as high as 64.04 g/t at the Norwalk mine, and ranging from trace to 70 g/t gold at other locations such as the Gananoque vein and the Red Carbonate Zone. As per the NI 43-101, historic gold production is reported to have been 60 ounces of gold from 820 tons milled from the Norwalk mine, and other adits, pits and shafts are reported to have been located on the property. 

Core drilling was carried out by RT Minerals in 2017 and 2018 and consisted of 21, mostly quite shallow, holes. The highlight of the program was hole N-17-14 that intersected 11.8 g/t gold over 1 m and 27.4 g/t over 1 m. The drill holes appear to have been designed to test various targets on the property. RT Minerals completed magnetic and induced polarization and resistivity surveys on the property. The surveys revealed the presence of numerous targets that remain untested or only partially tested.

As per the terms of the Agreement, Kingsview purchased one hundred percent (100%) of the Property from RT Minerals, subject to the existing 2% net smelter return ("NSR") royalty, in return for fifty thousand dollars ($50,000) and one million eight hundred thousand (1,800,000) common shares of Kingsview. 

"The addition of the Norwalk Property to our exploration portfolio dramatically increases the gold exploration potential of our Wawa Gold Project. It fills a very strategic location within the Hubcap (east and west) project where we interpret that significant gold bearing structures extend from the Red Pine discovery of visible gold in the Jubilee Shear Zone south of the Parkhill Fault in their September 6, 2022 Press Release. We are well positioned to focus a significant portion of our exploration work on this property, which we will call the Hubcap and we are very excited for the next steps," commented James Macintosh, President and CEO.


Tags: Northern Ontario / Press Releases / Gold / All Articles