- Troubadour is pleased to provide an update on the progress of its due diligence of the Privateer Gold Property (formerly the Surespan Gold Property) located on the northwest coast of Vancouver Island, B.C., near the town of Zeballos.
- Preliminary highlights of the data review show significant potential for the expansion of known vein occurrences in the areas around past producing mines on the property.
- The newly discovered 88 Vein, which contained an intercept of 1,386.50 g/t gold (Company news release dated March 5, 2019) over 0.30 metres from 85.30 metres downhole, has been proven over a strike length of 130 metres.
- There is an intervening on-strike distance of 275 metres between the No. 2 vein in the Privateer Mine workings and the 88 Vein, that provides a clear and obvious high priority drill target.
- Further instances of exploration potential are evident around the past producing Prident Mine and White Star Mine.
- The Company believes that the consolidation of ownership of this historic gold camp is pivotal to the success of its development. Previous operators have tried and ultimately failed to effectively develop and exploit resources in the camp due to the fractional ownership that has been present since the 1930’s when the Zeballos gold camp was discovered.
- In addition to the ongoing comprehensive review of all available data, the Company is currently mobilizing personnel to perform a site visit of the Privateer Gold Property and the core storage facility. Re-sampling and analysis of select core intervals will be undertaken to confirm analysis results as well as sample some previously untested core intervals.
PRIVATEER GOLD PROJECT
The Privateer Gold Project is located on Northern Vancouver Island near the town of Zeballos – a gold camp that produced 304,309 ounces of gold(1). 90% of gold production in the camp occurred over only six years (1938 –1943) and limited modern exploration occurred on the property.
AMARILLO COPPER PROJECT
The Amarillo Property consists of 7 mineral claims covering 4,178 hectares and is located in the heart of a major mining district. The project is located 30km West of Peachland, with access along the Peachland FSR logging road from Highway 97.
Managed by an experienced team consisting of youthful and seasoned professionals with proven track records as mine finders.
(1)Hanson and Sinclair, Geological Fieldwork 1982 Summary, Province of British Columbia Ministry of Energy, Mines and Petroleum Resources
A Canadian mining exploration company with a proven track record of success as mine finders.
LOI Signed to acquire the high-grade gold Privateer Property in the historic Zeballos gold camp and actively exploring the Amarillo copper porphyry target.
The Privateer Gold Project is located on Northern Vancouver Island near the town of Zeballos. The Amarillo Copper Project is located 10km to the South of the past producing Brenda Mine 30km west of the town of Peachland.
The Privateer Gold and Amarillo Copper Projects are road accessible and are able to be explored year-round.
ONLY 21 MILLION SHARES
Attractive share structure with only 21 million shares outstanding (37 million fully diluted).