1911 Gold Receives Exploration Grant from Manitoba Mineral Development Fund
TORONTO, ON, Sept 1, 2021 – 1911 Gold Corporation ("1911 Gold" or the "Company") (TSX-V: AUMB) (OTCQX: AUMBF) is pleased to announce that the Company has been approved for a $300,000 grant from the Manitoba Mineral Development Fund (“MMDF”) to support the 2021 field exploration program and advance its 100% owned Rice Lake gold exploration properties in Manitoba.
Proceeds from this grant will go directly to fund the ongoing 2021 field exploration program, which commenced in May with an overall budget of $1.2 million. This program continues to advance six project areas towards discovery, and involves geological mapping, prospecting, outcrop stripping, surficial geochemistry and geophysical surveys, conducted by the Company’s Manitoba-based exploration team, comprising 18 geologists and summer student assistants from local universities. To date in 2021, approximately 5,000 samples have been collected for geochemical and assay analysis. New data from this program will be combined with historical data and the Company’s new high-resolution drone magnetic survey data to define targets for the 2021–2022 exploration drilling program commencing in the fall.
The MMDF was launched by the Government of Manitoba in August 2020 with the specific goal of jump-starting mineral and economic development initiatives throughout the province. The MMDF is administered through the Manitoba Chambers of Commerce and aims to support new economic development opportunities that capitalize on existing assets and infrastructure across Manitoba, such as the Company’s True North mine, mill and tailings facilities located at Bissett, Manitoba.
Ron Clayton, President and CEO, stated, “We are pleased to receive this support from the Manitoba Mineral Development Fund as we advance our Rice Lake projects towards discovery. Gold mining and milling operations have historically provided employment and economic development opportunities in the Bissett region and, with the support of the MMDF and the Government of Manitoba, 1911 Gold will continue to work towards bringing additional growth and prosperity to surrounding communities.”
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totalling more than 58,000 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba, where it is reprocessing historic tailings on a seasonal basis. 1911 Gold believes its land package is a prime exploration opportunity, with potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Tully and Denton-Keefer projects near Timmins, Ontario, and intends to focus on both organic growth opportunities and accretive acquisition opportunities in North America.
1911 Gold’s True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
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Chief Financial Officer
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This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
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SOURCE: 1911 Gold Corporation