Taku Gold acquires high-grade Portland Gold Project in Yukon

The acquisition will support Taku’s strategy to capitalize on high-value exploration prospects within the White Gold District.

Canada’s gold exploration and resource company, Taku Gold Corp. has recently announced its acquisition of the high-grade Portland Gold Project located in the White Gold District, Yukon. According to sources, the acquisition will advance Taku’s strategy to capitalize on high-value exploration opportunities within the larger White Gold District where it is recognized as one of the largest land holders second to White Gold Corp.

Reportedly, Taku’s other key properties in greater White Gold District include Wounded Moose, Sonora Gulch, Sulphur, Quartz, Rosebute, Lucky Joe, Korat, and Bishop properties.

Credible reports claim that, in 2010, a trenching program discovered significant free-milling gold in four of six trenches. While in 2011 seven NQ2 diamond core holes were drilled on the Project for a total of 975 m of which five holes had significant gold mineralization. 

Additionally, several better drill intercepts at Portland have noted galena, a mineral containing lead, which is known to be associated with gold at locations like White Gold Corp.’s Vertigo discovery as well as other orogenic gold deposits in Yukon like Golden Predator Mining Corp’s 3 Aces project. 

Sources cite that this makes lead an important pathfinder element which has not been adequately studied at Portland. Moreover, other important trace elements could further lead to better drill targeting.

Speaking on the acquisition, Neil Swift, CEO, Taku Gold, said that their firm is excited to build on the prior work done at Portland by directing more in-depth soil sampling, follow up mapping, trenching, structural analysis, and targeted drilling with enhanced sampling protocol to identify new gold discoveries and expand upon the multi-ounce per ton results from the initial trenching.

Meanwhile, reports cite that Taku also plans to acquire the Portland Gold Project from a local prospector in exchange for $20,000 and a 1.0% NSR Royalty, of which 100% can be repurchased for $200,000. In agreement with the terms of the deal, the company will complete all cash payments on or before November 15, 2019.

Source Credit: http://takugold.com/taku-gold-acquires-high-grade-gold-project-in-white-gold-district-yukon/