People, wake up and smell the coffee. There is a huge staking rush going on in NFLD and it is only a matter of time before new investors discover ZON. Another joined the party today
Mariner to acquire 356.5 square km in Newfoundland
2020-08-21 09:16 ET - News Release
Mr. John Williamson reports
MARINER ACQUIRES ADDITIONAL PROPERTIES TO CONSOLIDATE ITS LAND POSITION AT THE GREAT BEND PROJECT IN NEWFOUNDLAND, CANADA, APPOINTS CHRISTOPHER HUGGINS TO THE BOARD
Mariner Resources Corp. has entered into an agreement to acquire 100-per-cent interest in additional properties within the Exploits subzone near the company's previously staked and acquired Mt. Peyton North, True Grit and Great Bend projects (see Mariner news July 29 to Aug. 7, 2020) located in Newfoundland, Canada. The Properties together consist of 1,426 mineral claims encompassing a land area of 356.5 square kilometres, providing further consolidation of land in the area. The company will acquire a 100-per-cent interest in the properties by issuing an aggregate of 1,083,300 common shares to the Vendors.
Property Highlights
Located within the Exploits Subzone of prospective siliciclastic sediments with the northern properties along the northern extent of the Dog Bay Line and the southern properties along the Gander River Ultamafic Belt (GRUB), which are both associated with gold mineralization in the area.
Consolidates land package around the True Grit Project which includes diamond drilling intercepts of up to 117 m of 0.60 g/t Au, incl 26 m of 0.83 g/t Au from surface (Moydow Mines, 2002), channel samples of 15.6 g/t Au over 1.0 m (Teck, 1990) and grab samples of 30.2 g/t Au (Teck, 1990). The property hosts a coincident Au-Sb-As soil anomaly to the northeast which measures over 2.6 Km by 0.80 Km that is untested.
The Properties geology and structure fit within the new exploration model for on structurally hosted, epizonal orogenic gold in the Exploits Subzone.
CEO John Williamson comments, "Mariner again continues to build its land position within the Exploits Subzone through both staking and in this case, acquisition of key claims. The acquisition of these additional claims continues to solidify our land position and will allow for more effective exploration programs as we move to active exploration on our Exploits Subzone projects."
Mariner believes that the Exploits Subzone, which runs 200 km from Dog Bay southwest to Bay d'Espoir, has been neglected since the last major exploration campaigns in the 1980's. The last 40 years have seen incremental advancements in the understanding of gold mineralization in the camp. The sum of this knowledge is now coming together in discrete and effective exploration models that the Company believes will drive major discovery. Mariner intends to leverage this shift in understanding and become one of the most extensive explorers in the Exploits Subzone.