VANCOUVER, B.C. – Arctic Hunter Energy Inc. (TSX-V: AHU) (“Arctic Hunter” or the “Company”) is pleased to announce that the Company has recently completed preliminary due diligence and performed a site visit on the Gold Crow Property situated south of the Pickle Lake gold mining camp of northwestern Ontario. Between 1928 and 1995, this camp produced 2.5 million ounces of gold from three deposits, the Central Patricia (1.7 Mt @12.5 g Au/t), the Pickle Crow (3.0 Mt @17.8 g Au/t) and the Dona Lake (1.8 Mt @ 6.6 g Au/T). The Pickle Crow Project (Auteco/First Mining) currently has an advanced development program and has a resource of 2.8 inferred tons grading 11.3 grams gold per ton. A 45,000-meter drill program is currently underway on the property. Further to the north, the Musselwhite gold mine owned by Newmont, has produced more than 4 million ounces of gold and has reserves of 2.29 million ounces of gold. The Gold Crow gold Project is a large district scale gold property comprised of 12,850 hectares, with the potential for the discovery of high-grade gold located in northwestern Ontario, Canada. The property is easily accessible via float-plane and helicopter, has a camp site with core storage facilities and has a close proximity to several communities, including Pickle Lake and Osnaburgh, Ontario.
Commented Tim Coupland, “Our teams of high-grade exploration gold experts have been working tirelessly this fall, to evaluate a number of gold properties and drill ready prospects that have become available and offered only to the Company. Our corporate objective with the newly assembled team of gold experts is to acquire a significant portfolio of high-grade gold exploration assets which will accompany its existing gold exploration and asset portfolio. The Gold Crow property is highly prospective, and has had some drilling which has encountered high grade gold, and more importantly contains all of the key elements that we hope will lead the team to finding and eventually lead to the discovery of high-grade gold in settings that are geologically similar to other gold deposits in the Urchi Sub-province including the Red Lake district . We believe having many historical past gold producers to the north of our property, and the elevated gold system situated on the property has the potential to develop sizeable gold mineralization. The Gold Crow Property has an existing base camp site and has float access ready for the 2021 field season.
TRANS CANADA GOLD PROJECT– THE DINORWIC GOLD PROPERTY
The Company’s current district scale gold property, the Trans-Canada Gold Property consists of 741 non-surveyed contiguous mineral cell claims totaling 14,880 hectares located within the Kenora Mining Division of Ontario. The property is located within the Wabigoon Greenstone Belt, which also contains the Thunder Lake Gold deposit and the Goldlund Gold Deposit. The Property contains a number of large shear zones containing quartz carbonate veins, pyrite and arsenopyrite, underlain by mafic volcanics with felsic volcanics in the south. There is a large regional scale iron carbonate alteration within the property, which is considered to be similar to that of the Red Lake Mining Camp. The regional scale Carbonate alteration within the property associated with shear zones within iron-tholeiite are prime targets for gold exploration. The property has excellent access, with the Trans-Canada highway bisecting multiple high priority targets in a north-south direction, as well as close proximity to the large community of Dryden, Ontario. The property has access to first class infrastructure, with close proximity to a number of rail corridors and power lines. A number of gold exploration targets have been identified within the property based on their association with regional alteration, known gold showings, shear zones, complex patterns and offsets in the regional magnetic map as well as spatial association with regional structures that has the potential to be well endowed with gold mineralization.
The Company intends to commence negotiations respecting the potential acquisition of the Gold Crow Gold property and does not currently hold an interest in the project. The Company is excited about the project potential, and the fact that the property has previously encountered high grade and visible gold in prior exploration drilling. The Company is still conducting and confirming due diligence investigations with its geological team of experts. The Company will provide further updates, once a detailed review of all datasets is complete, and if the Company successfully negotiates the acquisition of an interest in the gold Crow project, or any other gold projects currently under consideration.
Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved of the technical information disclosed in the news release.
ABOUT ARCTIC HUNTER – GOLD MINERAL EXPLORATION/ OIL AND GAS PRODUCTION
The Company is a Canadian Gold and Mineral exploration and Oil & Gas Resource Development Company that is currently focused on developing its’ District Scale Gold exploration project in Ontario, and increasing its production capabilities, obtaining potential future oil production revenues. The Company identifies, acquires and finances the acquisition of gold exploration properties and the ongoing development of mining and oil and gas assets primarily situated in Canada, a time-honored safe mineral exploration jurisdiction. The Company is currently reviewing a number of District Scale gold mineral exploration property opportunities, and identifying low risk exploration opportunities through selective acquisitions and development of mining exploration assets situated in these favorable resource jurisdictions. The Company has qualified Senior exploration management and Geological Mining teams of professionals, seasoned in exploration production, field exploration and drilling. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through the selective property acquisitions, and responsible exploration and development of mining, and petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Arctic Hunter Energy Inc.
Tel: (604) 681-3131
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