McLaren Resources commences Phase 1 exploration on McCool Gold Property
McLaren Resources Inc. has commenced a phase one exploration program on its 100%-owned McCool gold property which is located in the prolific Timmins Gold Region where over 70 million ounces of gold have been produced to date.
The first phase exploration program will consist of approximately 13 kilometers of line-cutting and induced polarization ("IP") geophysical surveys covering a portion of McLaren's original 275 hectare ("ha") McCool gold property. McLaren has retained Exsics Exploration Ltd. of Timmins, Ontario to undertake the initial line-cutting and IP geophysical work. McLaren has received a mineral exploration permit from the Ontario Ministry of Energy, Northern Development and Mines ("MENDM") for the original McCool gold property which allows McLaren to undertake various surface exploration activities on the property including line-cutting, geological and geophysical surveys and diamond drilling (see news release of August 10, 2021).
The first phase exploration program will focus on a select portion of the Centre Hill Fault which is host to significant gold mineralization on the McCool property. The Centre Hill Fault is interpreted to be a splay off of the major Destor-Porcupine Deformation Zone which is host to many gold deposits in the area. Upon completion of the line-cutting and IP surveys, McLaren anticipates the drilling of up to 10 diamond drill holes which will be designed to further evaluate and trace the significant gold mineralization known to exist on the property along the Centre Hill Fault from the work of previous owners undertaken during the period 1982-1987.
As announced on October 4, 2021, McLaren has acquired an additional 50 full mineral claims and 10 partial mineral claims, together comprising approximately 1,375 ha, from two independent prospectors from the Timmins area. The new claims are contiguous with the original McCool gold property and bring the total size of the property to approximately 1,650 ha. The majority of the new claims cover the northwest strike extension of the Centre Hill Fault which is host to the known gold mineralization on the McCool property. The expanded McCool gold property now covers an approximate five kilometer strike length of the gold-bearing Centre Hill Fault.
McLaren's expanded McCool gold property is ideally located immediately north of Highway 101 and abuts the Golden Highway Gold Project of Moneta Gold Inc. ("Moneta") to the south. Moneta continues to intersect good grade gold mineralization on their property and continues to expand their gold resource in several areas of the property (see Moneta news releases dated September 1, and October 28, 2021). The expanded McCool gold property also lies immediately east of the Fenn-Gib gold deposit where operator Mayfair Gold Corp. ("Mayfair") has announced significant gold intersections from recent infill and step-out drilling on their property (see Mayfair news releases dated August 17, September 13, 27 and October 25 and November 23, 2021).
The original 275 ha McCool gold property, along with McLaren's 775 ha Kerrs gold property, were acquired from Newmont Corporation ("Newmont") in mid-2020 in exchange for a four-year option on McLaren's Augdome gold property which lies immediately east of Newmont's past-producing Dome Gold Mine in Timmins (see news release dated May 14, 2020).
Tags: Northern Ontario / Exploration / Gold / All Articles