In the first production phase, the region ranked among the top five in Canada with production of 4.1 million ounces of gold from 19.5 million tons of ore and a combined average grade 0.21 oz gold/ton (6.5 g/t).
The world-class BGGC is located in north of Trans-Canada Highway 11 and situated approximately 80 km northwest of the town of Geraldton and 240 km northeast of the City of Thunder Bay in Northwestern Ontario. This region also hosts properties owned by such companies as Tombill Mines Limited and Equinox Gold Corp. (“Equinox”). Equinox is in the process of building one of the largest gold mines in Canada (the Greenstone Project) on their Hardrock property approximately 60 km from TRI’s BGGC property. According to Equinox’ website, their property has Proven & Probable gold deposits of reserves of 5.5 million oz. AU, Measured & Indicated resources of 2.6 million oz. Au (exclusive of reserves) and Inferred resources of 3.4 million oz. Au. Equinox also claims in its corporate presentation that their property has “significant exploration upside”.
TRI’s property includes:
- The Paulpic Gold Deposit, which contains an inferred mineral resource of 68,900 ounces of gold with an average gold grade of .241 ounces per tonne (presented in a NI 43-101 Technical Report) which is the most substantial mineral deposit known to date on the property.
- The Wascanna Shaft, which was the subject of underground development between 1917 and 1937. Subsequent work performed in 2013-2014, included 10 diamond drill holes near the shaft which produced 9 holes with visible gold.
- The average for drill hole W13-02 was 8.226 g/t Au over 8.70 metres, including 3.90 metres averaging 15.675 g/t Au, including 1.35 metres averaging 31.283 g/t Au, including 0.45 metres of 55.346 g/t Au.
- The Wescanna Shaft is 300’ deep and is currently filled with water. The top 100’ hosts an historically estimated 7,000 oz of gold (i.e., not a NI 43-101 defined resource)..
- At the Wascanna mine site, waste rock from underground mine development in the 1930’s was piled beside the Wascanna shaft (the “Wascanna stockpile”). The Wascanna stockpile is comprised of Mixed Quartz and Greenstone and has been estimated to contain approximately 8,937 tons of broken rock with an average grade of approximately 0.124 oz. per ton, or more than 1,100 oz. altogether.
Click on image to enlarge