Vancouver, British Columbia–(Newsfile Corp. – August 3, 2017) – Taku Gold (CSE: TAK) has signed an option agreement to acquire Golden Predator’s 100% interest in the Sonora Gulch Gold Property located in the southern part of Yukon’s White Gold District.
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The property includes 259 mineral claims (5,414 hectares) located approximately 110 kilometres northwest of the town of Carmacks along the winter access portion of the Casino Trail, which extends from Carmacks to the to the Casino project located northwest of Sonora. The property is located at the nexus of the White Gold District, which includes the Coffee and Golden Saddle gold deposits.
Prior to Golden Predator acquiring Sonora, extensive exploration was completed on the Property by Northern Tiger Resources Inc. from 2003 to 2011 including soil geochemical, geophysical, mapping and prospecting surveys, and 13,397 metres of drilling in 67 holes. This work identified numerous gold-bearing areas including the Amadeus, Night Music and Gold Vein Porphyry zones where gold mineralization was intersected by the diamond drilling.
In 2011, a National Instrument 43-101 Technical Report was filed on SEDAR by Northern Tiger recommending a 16,400 metre drill program on both structurally controlled gold-silver mineralization and bulk tonnage porphyry gold targets. No work has been completed on the Property since 2011.
Taku has already issued 4.5 million shares to Golden Predator. On the first anniversary of the closing, Taku will issue an additional 3.5 million shares, or $1.4 million in value based on a weighted average price. On the second anniversary, Taku will issue an additional 3 million shares, or $1.2 million in value based on a weighted average price.
Zak Dingsdale, President and CEO of Taku stated: “We are delighted to obtain the high quality Sonora Gulch Gold project. It has a substantial data base with numerous highly prospective gold targets that merit aggressive drilling. Moreover, Sonora is located at the intersection of the White Gold District and Dawson Range Mineral Belt, both of which are amid an exploration boom. Sonora is a great complement to Taku’s already large land package in the White Gold District.”
The shares are trading at $0.24 and with 14.2 million shares outstanding, the company is capitalized at $3.4 million.
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