Cross River Ventures Expands Land Package and Provides Drilling Program Updates

Map view of the McVicar gold project. Source: Cross River Ventures

Canadian gold exploration company Cross River Ventures Corp. recently announced updated readiness plans for an upcoming winter 2022 drilling program at its 100% owned McVicar Gold Project, located approximately 150 km east of Red Lake and 80 km west of Pickle Lake in Northwestern Ontario, Canada.

The Company has several gold exploration projects located primarily in northwestern Ontario spanning various belts with high gold potential, including its largest project, the McVicar Gold Project in the Greenstone Belt. of Lang Lake. The project is actually a recent consolidation of several properties within the historic Patricia Mining division. It spans over 11,500 hectares and covers all of the “main structural and fertile geological features” of the Lang Lake Belt.

The most recent and up-to-date highlights from McVicar’s drill intersections are as follows:

  • 6.46 g/t Au over 10.09 m (including 29.86 g/t over 1.86 m),
  • 5.5 g/t Au over 3.6 m,
  • 11.72 g/t Au over 1.52m,
  • 33 g/t Au over 1.86m,
  • 5.0 g/t Au over 2.74 m, and
  • 9.3 g/t Au over 2.02 m

Source: Cross River Ventures Corp.

The winter 2022 drill program includes 5,000 meters of core drilling and will be conducted from the Cat Lake winter road. The program is fully funded and will prioritize two primary targets, the Weathered Zone and the Bear Head Zone, which have been advanced to the drilling stage due to extensive field work in 2021. The exact timing of the planned start of the drilling campaign will depend on winter road conditions, but camp construction is expected to begin in February.

Prior to the start of the drilling program, the company also acquired the remainder of the “relevant open claim blocks” located on the McVicar project, which are known to cover “historic mineral occurrences with notable gold results”.

These additional mining concessions were acquired from an “arm’s length vendor” in exchange for the issuance of 100,000 common shares, which are subject to a statutory hold period of four months and one day following the closing day. of the show.

The following list includes mining land occurrences of additional claim blocks:

  • Lake Lang–Belore[iv] 14.12 grams per tonne gold and 0.45% copper
  • Sample 2056[v] 1.34 grams per ton of gold
  • Sample 0134[vi] 1.47 grams per ton of gold
  • ZI 3[vii] 1.18 grams per ton of gold
  • Sample 2211[viii] 297 grams per tonne silver and > 1% lead

Source: Cross River Ventures Corp.

The 2022 drill program is actually the second step in uncovering the potential of McVicar’s two targets. In 2021, the first phase was launched and the company’s technical team discovered two high-grade gold trends on the two main priority targets, which confirmed the locations of historical gold occurrences in bedrock.

Not only were these bedrock gold occurrences discovered, but the discovery of one of the main targets, the Bear Head zone. The area is undrilled, with a “high-grade gold corridor at least 700 meters long, nestled within a kilometer-long gold-bearing crustal fault”. Bear Head lies approximately 600 meters south of the historic Chellow vein, which is a narrow vein containing white quartz, minor pyrite and visible gold. The location of the Bear Head area alone shows the great potential of the property.

The other main target the company is focusing on is the weathered zone, which is a “complex zone of intense deformation and weathering composed of intensely sheared mafic volcanics, abundant green mica, intermediate intrusive rocks, massive quartz to semi-massive and a quartz-carbonate-sericite schist The upcoming drilling program plans to test the gold grade as well as new shoots and gold domains at several locations along the zone.

“Shallow historical drilling in the altered zone intersected 6.46 g/t Au over 10.09 m (including 33 g/t Au over 1.86 m) (hole ML-86-27[xii]), 5.7 g/t Au over 7.71 m (hole ML-03-019), among other high-grade results. Excavation of the shear zone approximately 200 m north of the claims returned 6.89 g/t Au over 1.55 m (trench AZ-03-05; Continuum Resources Ltd.[xiii]).”

Source: Cross River Ventures Corp.

The company received early exploration permits for the McVicar property in June 2021 along with all relevant permits for the drilling program. Cross River also controls four early-stage properties in the Archean Uchi Greenstone Belt, which are Shabu, Dent-Jackson, Maskootch, and Ear Falls from north to south. It is also responsible for the Manitou gold exploration project near the Archean Eagle-Wabigoon-Manitou lakes greenstone belt approximately 40 km south of the community of Dryden, and the Fuchsite Lake project located 20 km north of the town of Armstrong, Ontario.

Cross River is off to an exciting 2022 with its upcoming drilling program, but also with its new stock option grant which it announced in mid-January. The Stock Option Plan will allow various directors, officers and consultants of the Company to purchase up to 2,000,000 common shares of the Company. “The stock options are subject to a four-month hold period, are exercisable at a price of $0.17 per share, and expire two years from the grant date of January 17, 2022,” according to the press release.

The above refers to a noticen and is for informational purposes only. This is not investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

About Kristopher Harris

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