Gold Lakes Corp (OTCMKTS:GLLK) an exploration stage Blue-Sky firm that specializes in acquiring and advancing mining assets reported that the firm has obtained nod of the exploration work permit program to the Ontario MNDM. This exploration permit is effective for three years.
With this nod, the company can continue its development and launch Phase II of the Big Monty Claims. Phase II of the exploration plan will entail diamond drilling and assaying of geophysical and geological targets of up to 10 holes coming at 3000 meters.
The update
The first stage of Phase II will require line cutting of the region. Line cutting is often the initial exploration work performed on a claim. It comprises clearing bushes and vegetation and separating a main base line via the middle of the mining claim with a grid series or wing lines moving of the base line.
The “Big Monty” asset comprises of 72 mining claim units summing 2,846 acres and is based in the Abitibi Greenstone Belt area, in the Frecheville township. This asset is near current producing gold mines, and edges asset owned by St Andrew Goldfields Ltd. and Harte Gold Corp who was recently purchased for CAD$178 million by Kirkland Lake Gold Inc.
Gold Lakes plan is to identify and buy prospective assets in well-mineralized mining regions and developing these assets toward making new findings within the Abitibi Greenstone Belt. This prolific belt, for over a century now has produced immense quantity of gold, silver, copper and zinc.
Gold Lakes is an exploration phase Blue Sky firm that specializes in developing and acquiring mining assets. The firm main asset is named as the “Big Monty” asset, sited in the productive Abitibi Greenstone Belt area, in Ontario. The Big Monty asset is bordered by prolific gold mines and is based within the Larder Lake Cadillac Fault Zone and PDFZ.
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