Golden Share Resources has announced the recent acquisition of its 100% owned Sandridge project through map staking.
Located approximately 150km east of Thunder Bay, Ontario, Canada, the Sandridge project is hosted in the Winston Lake Greenstone Belt (WLGB).
Sandridge is characterized by mafic to felsic volcanic and siliciclastic sedimentary rocks, collectively intruded by tonalite-trondhjemite-granodiorite and gabbroic stocks.
The WLGB contains three past producing mines that include Zenith, Winston Lake and Pick Lake.
Golden Share said: “All three deposits are classified as bimodal-mafic volcanic-hosted massive sulphide (VMS)-type. Historical geophysical and geochemical data suggest that the favourable WLGB stratigraphy hosting the Winston Lake and Pick Lake deposits extends northwest into the Sandridge Project area.”
Between 1966 and 1970, the Zenith mine witnessed mining of about 180,000 tonnes of 16.6% Zn. The Winston Lake mine’s past production was approximately 3 million tons at 14.1% Zn and 1.0% Cu.
Sandridge is located nearly 8km northwest of the former Winston Lake Mine, where a significant infrastructure is in place.
It comprises a block of 18 contiguous single cell mining claims totaling 378 hectares covering VTEM conductors on regional strike with the Winston Lake and Pick Lake deposits.
Golden Share stated that it considers Sandridge as a drill ready project.
The firm said: “Throughout the development of its energy storage business in 2017 and 2018, and the recent successful spinout of that business into an American technology company, Golden Share as a mineral exploration company, has never stopped exploring.
“The market conditions for junior mineral exploration companies has been challenging for several years and may persist, however Golden Share will take this opportunity to position itself with an improved portfolio of exploration properties through acquisitions and fine tuning of certain existing mining claim holdings.”
In January, Golden Share completed the spin-out of its energy storage business.
The company is a junior natural resource company focused on mineral exploration in the province of Ontario, Canada.