The agreement enables Silk Road to earn a 100 percent interest in five claim blocks comprising 5.2 square kilometres in the
The claims, known as the Four Nations-Grenfell property, host multiple gold occurrences according to historical work files submitted to the Ontario Government. There has also been drilling conducted on the property that intersected gold mineralization.
This transaction is considered arms-length in which
The shares are paid over two years: one million payable upon closing and 500,000 shares each to be issued on the first and second anniversaries of the closing date. There are no work commitments on the properties. The agreement is subject to TSX, regulatory and board approvals.
'We now have a land position that has north-south and east-west boundaries in this prolific gold-producing camp,' said Director,
In 1920,
In 1959, the Hecmac Syndicate, an exploration group, drilled four short-holes which assayed 3.5 grams per tonne gold over 1.07 metres (0.10 oz/t gold over 3.5 feet). Trenching in 1960 by another group reported assay values ranging from 1.7 grams per tonne gold (0.05 oz/t gold) to 16.4 grams per tonne gold (0.48 oz/t gold).
There has also been drilling, trenching and small-scale mining conducted on the adjacent property that intersected significant gold mineralization.
The assays values reported here are not NI 43-101 compliant and were extracted from a report by FR Ploeger in 1997.
Paraphrased From Historical Anconia Resources/Omai Gold Mines Reports
At the nearby Four Nations property, the property that hosted earlier workings, an exploration shaft was sunk to 25 feet and extended to 536 feet between 1926 and 1928. Levels were established at 125 feet, 250 feet, 375 feet, and 500 feet. Approximately 2500 feet of lateral development was undertaken at this time, mostly on the 500 foot level. The underground workings of the mine are not accessible presently.
According to 2014 Anconia news releases, the company sampled 7.81 grams gold per tonne over 7.55 metres from the Allen Veins. Grab samples from the Allen Veins area have yielded results up to 19.0 grams per tonne of gold (Anconia news releases of
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Web: www.silkroadenergyinc.com
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