Gold Price $2023.84
TSX-V: AUMB
Last: 0.07
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1911 Gold Corporation is located in the heart of the world-class Rice Lake gold district within the West Uchi greenstone belt. The Company holds a dominant land position with over 58,000 Hectares, an operating milling facility, an underground mine with one million ounces in mineral resources, and significant upside surface exploration potential.
Rice Lake is a classic Archean greenstone belt, bound by two crustal-scale faults and containing 2 major mine trends containing more than 10 significant deposits. Rice Lake has widespread gold mineralization and is vastly underexplored compared to the Red Lake district in Ontario, with previous exploration narrowly focused on historic showings. 1911 Gold Corporation is combining high-resolution LiDAR and aeromagnetic data along with innovative geological and geochemical surveying techniques to drive exploration success.
The existing infrastructure at Rice Lake includes the True North mill and underground mine (with over 1M oz in mineral resources). With the underground mine operations temporarily suspended, the Company is successfully re-processing historic tailings (27,500 oz in mineral resource) at a rate of 1,000 to 1,200 tons per day and producing 4,000 to 5,500 ounces of gold per annum.