VANCOUVER, B.C. – Trans Canada Gold Corp. (TSX-V: TTG) (“Trans Canada” or the “Company”), is pleased to announce that the Company has agreed to purchase a 100% interest, subject to a 3% net smelter returns royalty (“NSR”), in the Gold Crow Gold Property (15,185 ha or 37,500 acres), by paying $75,000 and issuing 4,000,000 shares of the Company, conditional on TSX Venture Exchange acceptance. The Gold Crow Gold Project is a district scale gold and magmatic copper-nickel-cobalt property, with the potential for the discovery of further high-grade gold and copper-nickel-cobalt, and straddles both the north trend and the south trend of the Misehkow arm of the Pickle Lake greenstone belt situated near Pickle Lake, Ontario, Canada (the “Property”). The Pickle Lake gold belt has hosted 3 million ounces of historic gold production from five underground mines with average recovered grades ranging from 9.0 to 23.89 grams per tonne (g/t Au). The Gold Crow District Scale gold property is accessible via float plane and helicopter, and has easy access to the community of Pickle Lake Ontario and has a close proximity to several First Nations communities, including New Osnaburgh, Ontario. Exploration activities for the entire project area are expected to be fully permitted for 2021-22.
A NI-43-101 compliant technical report on the Gold Crow Property (the “Technical Report”) has been commissioned.
GOLD CROW PROJECT- GOLD, COPPER-NICKEL-COBALT HIGHLIGHTS
The Gold Crow Project s located in a 700-kilometre-long belt across the Canadian Shield from Lake Winnipeg to the James Bay lowlands, that is well endowed with gold. Total gold produced from this belt is 36 million ounces.
The north trend of the property covers a 28 km length of mafic volcanics with multiple iron formation horizons ideal for hosting gold. Drill holes with gold intercepts are scattered along the length of the trend, but seem to be concentrated in a 3.5-kilometer-long area referred to here as the Jackpot Zone.
The Jackpot Zone situated on the Gold Crow project, was last explored in the 2010-2012 exploration period by Jiminex Inc. The drill results include Hole MIS 11-03, which returned 5.44-meter core length of 10.86 g/t Au, including 2.40 meters of 18.26 g/t Au, which in turn included 0.30 meter of 116.0 g/t Au.
The Nickel Crow Zone, located on the north trend of the property, was explored by Sturdy Mines in 1985. Their program was successful in the search for copper-nickel with their best assay indicating 1.22% combined Cu-Ni across 15 feet. Trench samples consistently averaged 0.66% Cu (Copper), 0.25% Ni (Nickel) and 0.12% Co (Cobalt).
The Gold Crow district scale Property is recognized to host significant gold and magmatic copper-nickel-cobalt potential, and warrants a major, multiyear exploration program focused on drilling in and on strike with the Jackpot Zone and the Nickel Crow Zone. Property wide till sampling, analysis and gold grain counting, prospecting, stripping, geological mapping and drilling new high-grade targets as they are defined is planned. Lithogeochemical studies to assess magmatic copper-nickel-cobalt and VMS potential will also be carried out.
Commented Tim Coupland, “Our team is extremely excited about the existence of high-grade gold drill targets situated in banded iron formations, as well as magmatic copper-nickel-cobalt mineralization in gabbro that are drill ready, situated on the Gold Crow Property. Previous drilling only assayed gold targets, and did not assay for the abundance of base metals that occurs on the property. Additional exploration will almost certainly enhance the exploration potential for the presence of additional high-grade gold and magmatic-copper-nickel-cobalt targets situated on the property and provide additional drill targets to compliment the gold targets already identified on our property. The gold numbers detailed in previous drilling are quite compelling and require additional deep and in-fill drilling. The Gold Crow property has an existing base camp established with access to drill locations and to water. The Company has identified several high- grade gold targets, copper, nickel cobalt targets and the property and surrounding area is drill ready with easy access to the community of Pickle Lake, complete with infrastructure and a seasoned workforce. With the review of historical data sets, combined with a proper compilation, a picture is now emerging that the Gold Crow Property has the potential to host a high-grade gold resource, and in addition to gold, potentially host magmatic copper-nickel-cobalt mineralization and VMS style copper-zinc-silver mineralization.
TRANS CANADA GOLD ANNOUNCES $500,000 DOLLAR FINANCING
The Company wishes to announce that it has arranged a non-brokered private placement financing of 3,333,000 units (the “Units”) at a price of CDN $0.15 per Unit to raise gross proceeds of up to $500, 000 CDN (the “Offering”).
Each Unit will consist of one (1) common share and one (1) common share purchase warrant (“Warrant”), each warrant entitling the holder to purchase one additional common share in the capital of the Company at an exercise price of $0.25 per share for a period of three (3) years from the date of issuance. The Offering is subject to acceptance from the TSX Venture Exchange and all of the securities issued pursuant to the Offering will be subject to a four month hold period from the date of issue in accordance with applicable securities laws.
Gross proceeds from the financing will be used by the Company for exploration work planned to take place during the 2021-2022 field season, on its 14,800-hectare Trans Canada Gold Project (“Dinorwic Gold Property”) situated near the Dryden gold district in Northwest, Ontario Canada and the Gold Crow High Grade Gold project situated near Pickle lake, Ontario. The Company intends to use the balance of proceeds of the Offering for any new costs associated with the acquisition and exploration of the Company’s new gold exploration assets, legal, accounting costs and general working capital.
In connection with the financing the Company proposes to pay a finders’ fee to arm’s length parties for services rendered in respect of the Offering. The finder’s fee will consist of a cash fee equal to 6% of the gross proceeds of the Offering and finder’s warrants equal in number to 6% of the number of Units sold under the Offering. Each finder’s warrant will entitle the holder to acquire one (1) common share of the Company at a price of $0.25 per share for a period of three (3) years from the date of issuance.
In addition to other prospectus exemptions commonly relied on in private placements, the Offering will be available to existing shareholders of the Company who, as of the close of business on April 20, 2021, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in BC Instrument 45-534 – Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders and in similar instruments in other jurisdictions in Canada (the “Existing Shareholder Exemption”). The Existing Shareholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption exceeding the maximum Offering, the Company may adjust the subscriptions received on a pro-rata basis. Orders will be processed by the Company on a first come first served basis such that it is possible that the subscription received from a shareholder may not be accepted by the Company if the offering is oversubscribed.
The Company will also make the Offering available to certain subscribers pursuant to BC Instrument 45-536 – Exemption from Prospectus Requirement for Certain Distributions Through an Investment Dealer (the “Investment Dealer Exemption”). In accordance with the requirements of the Investment Dealer Exemption, the Company confirms that there is no material fact or material change about the Company that has not been generally disclosed.
TRANS CANADA GOLD PROJECT- DINORWIC GOLD PROPERTY
- Trans Canada Gold Corp. has acquired a 100% interest in the Trans Canada District scale Gold Project, formerly known as the Dinorwic Gold Project, situated near Dryden, Ontario. The Property is comprised of 14,880 hectares located within the Kenora Mining Division in Ontario. It adjoins the Treasury Metals project hosting the Goliath/Goldlund gold deposits. This property has excellent road access, with the Trans Canada Highway bisecting multiple high priority targets in a north-south direction as well as close proximity to the community of Dryden, Ontario. The Technical Advisory Board has identified a number of gold exploration targets 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 associations with regional structures that has the potential to be well endowed with gold mineralization
- Completed a detailed NI-43-10 Geological Report on the Dinorwic Gold Property/Trans Canada Gold Project authored by Derrick Strickland, P. Geo and Dr. Colin Bowdidge, Ph.D., P.Geo.
- Appointed a new Gold Technical Advisory team spearheaded by Michael Dehn and Tim Twomey B.Sc., P.Geo., both formerly with Goldcorp, and Mr. Brian Game P. Geo, co-owner of Geominex Geological Consultants whose corporate offices are situated in Vancouver, BC, Canada. Their mandate is to help identify, acquire, explore and develop large district scale gold projects in Canada.
- Commenced permitting process with Remini Exploration & Consulting Ltd., of Red Lake, Ontario
- Trans Canada’s newly appointed management team and Technical Advisory team has committed itself to maintaining a strong balance sheet combined with the acquisition of District Scale gold projects and providing a management team that is experienced in the financing, marketing, and management of gold exploration programs for projects located in Ontario.
- Identified the existence of historical high-grade nickel- copper, platinum, palladium group mineralization on the property requiring further work.
TRANS CANADA GOLD CORP.- www.transcanadagold.com
The company has launched its new fully interactive website and social media platforms at www.transcanadagold.com The fully interactive website, which allows users to access social media platforms such as Twitter, Facebook and Instagram will update and allow shareholders to view the Company’s latest exploration activities and development of the Trans Canada Gold Project/Dinorwic Gold Property situated near Dryden, Ontario. The website will assist the Canacom Group, one of Canada’s leading progressive Digital Marketing groups and service providers located in Toronto, Ontario who are providing digital expertise and branding for the Company in the gold and mineral exploration sector. The increased exposure is expected to increase investor awareness of the newly re-named Company, Trans Canada Gold Corp.
TRANS CANADA GOLD PROJECT– THE DINORWIC 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 Goliath 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.
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 TRANS CANADA GOLD CORP. – 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, increasing its production capabilities, and 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 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
Trans Canada Gold Corp.
Tel: (604) 681-3131
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.