ONTARIO – GTA Resources and Mining of Burlington, ON, has advised Balmoral Resources of Vancouver that it will not exercise its second option on the Northshore gold property near Schreiber. Instead, a joint venture will be created with GTA as the operator and 51% owner and Balmoral with a 59% share.
The Northshore property hosts multiple high grade vein systems in a geological setting that Balmoral likens to the Kirkland Lake and Timmins gold camps. There are six known zones of gold mineralization, including one that is a previous producer.
In June this year GTA released a 43-101-compliant resource estimate for the Afric zone at the Northshore project. It included 12.36 million indicated tonnes grading 0.99 g/t Au and containing 391,000 oz of gold. The inferred category included 29.58 million tonnes at 0.87 g/t or 824,000 oz of gold.
Photos and maps from the Northshore property are posted at GTAResources.com.