- Owns large, advanced gold project in Ontario
- Interests in large claim blocks in the Hemlo mining camp
- Experienced management team with a focus on profitable exits
What Ready Set Gold does:
Toronto-based Ready Set Gold Corp (CSE:RDY) is a newly-listed, high-grade gold explorer and developer focused on Ontario’s prolific Greenstone belts.
The company owns a 100% interest in the Northshore Gold Property, which is located in the Schreiber-Hemlo Greenstone Belt near Thunder Bay and is considered one of Ontario's largest undeveloped prospective gold projects.
A National Instrument (NI) 43-101 compliant Mineral Resource Estimate done by GTA Resources on Northshore in 2014 showed 391,000 Indicated gold ounces grading 0.99 grams per tonne (g/t) along with 824,000 Inferred ounces of gold at 0.87 g/t, using a cut-off grade of 0.50 g/t gold.
Ready Set Gold also has a 100% interest in the Hemlo Eastern Flanks project, two separate claim blocks totaling 4,453 hectares located in Ontario’s prolific Hemlo mining camp. The project is located in similar geology to Barrick Gold Corp’s (TSE:ABX) operating Hemlo Mine seven kilometres (km) to the east, which has produced more than 21 million gold ounces.
And the company also holds an option to acquire a 100% undivided interest in the 1,634 hectare Emmons Peak Project, located 50km to the south of Dryden, Ontario, near Treasury Metals Inc’s (TSE:TML) Goliath and Goldlund advanced gold development projects.
Ready Set Gold is led by CEO Christian Scovenna, an industry veteran with more than 13 years capital market experience, who has held various executive officer positions and board seats with companies such as Pasofino Gold, OremexSilver, OremexGold, PharmaTher, and Revive Therapeutics.
How is it doing:
Ready Set Gold began trading on the Canadian Securities Exchange (CSE) on January 12, 2021, with a low share float of 29.8 million shares outstanding (37.1 million fully diluted).
On that same day, the company provided an update on its 2020 fall exploration program on the Northshore Gold project, which followed up on the work completed in July 2020.
Highlights from the update included:
- Completed high-resolution airborne magnetic and Lidar surveys
- Analyzed lithological observations, structural measurements, and structural features to understand the structural events affecting the gold mineralization
- Integrated the structural information and high-resolution magnetic / Lidar data to develop a geological interpretation for the structures and gold mineralization
- Completed a review of vein composition, textures, and geometry to understand the relationship between vein development and gold mineralization
- Submitted Exploration Plans to the Government of Ontario
- Completed 40 linear metres of trenching to follow up previous surface and boulder sample results from earlier in the year with channel samples taken on exposed veins
- Results confirm the gold mineralized system in the No 4 Vein, and indicate a potential extension of the No 5 Vein
Ready Set Gold noted that highlights from July sampling and mapping included high-grade gold values from quartz veins, both within and outside of the Afric deposit, with grades as rich as 329 g/t gold in the Afric Zone and 301 g/t gold from the historic mine.
The company said further sampling and mapping of newly-discovered quartz veins at Northshore will be completed in spring 2021.
- Exploration upside from its pipeline of projects
- Assay results from Phase 1 drilling at the Northshore Gold Property
- Northshore resource upgrade following infill drilling on the Afric deposit
What the boss says:
Commenting on the company’s 2020 fall exploration update on the Northshore Gold project, Ready Set Gold CEO Christian Scovenna said in a statement: “The summer and fall exploration work conducted on our flagship property demonstrates that there is merit in advancing the 'Afric' deposit, with its defined resources, as well as pursuing opportunities provided by the under-explored, high-grade vein systems, which provide blue-sky potential for early-stage investors.”
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