- Winshear Gold (WINS) received approval to initiate exploration activities at its Gaban Gold Project
- The company plans to build up to 40 drill platforms in the Coritiri gold anomaly area
- Gaban is being investigated as a possible hard rock source of the extensive alluvial goldfields being mined downstream at Madre de Dios, which now covers more than 1,900 square kilometres
- Winshear Gold Corp. (TSXV:WINS) stocks opened trading at $0.10
Winshear Gold (WINS) received approval to initiate exploration activities at its Gaban Gold Project.
The authorization came from Peru’s Ministry of Energy and Mines.
The company plans to build up to 40 drill platforms in the Coritiri gold anomaly area.
Gaban is being investigated as a possible hard rock source of the extensive alluvial goldfields being mined downstream at Madre de Dios, which now covers more than 1,900 square kilometres.
The Gaban Gold Project is located in the Puno Orogenic Gold Belt on the east side of the Andes, where gold-bearing shear zones are commonly found.
Winshear’s CEO, Richard Williams, stated that receiving the authorization to initiate activities is the last major permitting milestone in order to carry out a drill program on the Coritiri gold target area.
“Winshear is contemplating bringing in a joint venture partner while it awaits a judgement on its arbitration case against the government of Tanzania which concluded in February of 2023. Winshear is seeking damage in excess of C$130 million with the tribunal’s decision expected in the fall of 2023. The company has just completed an oversubscribed C$585,000 financing with a view to receiving the arbitration judgement before it seeks a larger financing to drill at Gaban.”
Winshear Gold is a Canadian junior exploration company focused on the exploration and development of the Gaban Gold Project and the Tinka Iron Oxide Copper Gold project in Peru, and SMP Gold Project in Tanzania.
Winshear Gold Corp. (WINS) opened trading at $0.10.
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