RE:RE:RE:Drilling, drilling, drilling... About the Monster Lake Project
The Monster Lake project is located 50 kilometres southwest of Chibougamau, Quebec, and is underlain by Archean volcanic rocks of the Obatogamau Formation, which are traversed by an important deformation corridor with associated gold-bearing mineralized structures. Exploration to date has traced this prospective structural shear zone system for at least 4 kilometres along strike, along which several gold prospects have been discovered and a Mineral Resource delineated at the 325-Megane Zone.
The Monster Lake Project is held under a joint venture agreement with TomaGold. The Company holds an undivided 75% interest in the property after having fulfilled the terms of its second Earn-In at the end of 2019. Should a development decision be made by the joint venture, or should the joint venture declare commercial production, TomaGold would be entitled to a further C$1.0 million paymen