Located adjacent to Goldshore Resources' (GSHR GSHRF) Moss Lake Gold project which hosts a current inferred resource of 4.17M ounces is Big Gold's (BG.c) Tabor Project, consisting of 3,120 hectares near Thunder Bay, Ontario.
Today, BG took a necessary step in the right direction for Tabor in announcing a non-brokered private placement financing for gross proceeds of $500,000 to be allocated towards the upcoming exploration program at the Project.
The exploration program is set to begin at Tabor this month (May 2023) and will include a historical desktop study, control grid line cutting, magnetic and induced polarization program, geological mapping and sampling as well as till sampling.
The gold mineralization on the project is associated with quartz veins, shearing and sulphides including pyrite, pyrrhotite, sphalerite and chalcopyrite.
Notably, both geological and mineralization characteristics at Tabor are similar to GSHR's Moss Gold project where 2.17 h/y Au over 50.35m was intercepted and Delta Resources (DLTA) Delta-1 Gold Project where 1.29 g/t gold over 97m was intercepted.
BG President and CEO Scott Walters commented: “We look to move briskly towards spring exploration and to capitalize on the high levels of interest in the area based on our neighbours producing excellent numbers through drilling this year. Members of our technical team are well versed in the area, having worked on several properties close by, resulting in a high degree of confidence that we can join our neighbours by uncovering a quality gold asset in the Thunder Bay district”