Cannon is giving us a heads up, this could be huge! Take it for what it's worth. However, to me it's definitely a buy and hold for the GEO report. Flipper beware! GLTY
The Queen Alexandra Project, which includes a formerly producing gold mine, is located just outside of Dryden in northern Ontario, near the Gold Rock Mining Camp in the Kenora Mining District. This area is structurally complex and has vast potential for base metal mineralization. The area hosts three past producing gold mines, over 15 prospects with shafts, underground development, and numerous gold showings.
The area has largely been excluded from any modern gold exploration programs and to date, very few drill programs have penetrated to depths of 1,000 feet. As a result, the area continues to be the subject of a great deal of exploration activity with over 50 companies with active programs. The combined efforts have yielded some very positive results, including significant gold intercepts as high as 18.85 g/tonne; numerous companies have reported examples of visible gold mineralization in core samples; potential new mineralized zones have been identified and several drilling programs have indicated excellent potential for continuous gold structures throughout these areas; and at least one preliminary economic assessment has been performed that confirms the potential for an economic gold deposit.
The Phase I programs that took place in May and June of this year were conducted to confirm the previous exploration activities of Cannon's former geologist and to ensure that all future activities are carried out in a NI 43 101 compliant manner. Additionally Cannon's consulting geologist located, prospected, and mapped the geological showings along the conductive zone.
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