Visible gold from FG project Credit: KORE
BRITISH COLUMBIA – KORE Mining has increased its wholly owned land holdings in the southern part of B.C.’s Cariboo gold district, to 1,000 sq. km – the company’s claims now cover 110 km of the prospective Eureka structural trend, host to its FG and Gold Creek orogenic gold projects.
“It’s a rare occurrence when a company controls a dominant position in a gold district, particularly in a safe and stable jurisdiction,” Scott Trebilcock, the company’s CEO, said in a release.
According to KORE, the company is now the dominant land holder in the southern part of this district; Osisko Gold Royalties controls the northern portion, with its Cariboo (Barkerville) project. The Cariboo region has a long-standing history of gold mining with a local power supply, road network and a skilled labour force.
To add these holdings, KORE staked 36 claims, covering 710 sq. km, and acquired 21 claims, for an additional 55.7 sq. km of ground; the company has also identified new exploration targets within these grounds.
A 5,000-metre drill program is underway at the FG project, with over 1,700 metres completed since the end of June. The 130-sq.-km project hosts an orogenic gold deposit, with an existing measured and indicated resource of 15.2 million tonnes grading 0.78 g/t gold for a total of 376,000 oz. and an additional 27.5 million inferred tonnes at 0.72 g/t gold totalling 634,900 oz. These are derived using a 0.5 g/t gold cut-off grade.
For more information, visit www.KOREMining.com.