Toronto, Ontario--(Newsfile Corp. - November 19, 2024) - Big Gold Inc. (CSE: BG) (FSE: H7L) (the "Company" or "Big Gold") is pleased to announce plans for the 2024 fall exploration activities including drilling at the Company's Tabor Property, located along the highly prospective Shebandowan Gold Belt in Thunder Bay, Ontario (Figure 1).
The up to 1,200 metre, maiden drill program, will focus on the East Divide Target Zone (Figure 2) which sampled 11.4 g/t Gold (Au) from surface during Phase 2 exploration and 1.46 metres of 10.9 g/t Au, 34.1 g/t silver, 0.5% copper, and 1.8% zinc from historical infill drilling. Big Gold has contracted Laframboise Drilling to complete the drilling.
The Company is also thrilled to announce it has been approved to participate in the Ontario Junior Exploration Program ("OJEP"), which includes non-dilutive funding of up to CAD$200,000. This OJEP funding will help drive 2024/25 exploration activities.
Additional 2024 Exploration Highlights
- Ground Induced Polarization (IP) Survey - a total of 15-line kilometres was surveyed along the exploration control grid at the Tabor Property
- Surface Exploration - follow-up on targets generated by the IP survey and historic desktop compilation
Big Gold is committed to responsible exploration, and the Tabor Property project aligns with the Company's strategy to identify and develop high-value gold assets in Ontario's premier mining districts.
OJEP Highlights
- The Province of Ontario is actively investing in early exploration through OJEP, creating valuable opportunities for junior companies to identify future mining prospects.
- OJEP will fund up to 50% of eligible expenses incurred on the Tabor Property from April 1st 2024 to February 28th, 2025. This is expected to result in OJEP providing up to CAD$200,000 of funds.
- Funding is conditional upon confirming OJEP's eligibility requirements are met, execution of a funding agreement and adherence to OJEP's terms and conditions.
- Non-dilutive funding that bolsters our exploration initiatives.
"Ontario's commitment to building a thriving and sustainable mining sector is reflected through our investments in exploration and development," said George Pirie, Minister of Mines. "This investment of $200,000 through the Ontario Junior Exploration Program (OJEP) will support Big Golds' exploration activities in the Shebandowan Gold Belt, helping to unlock northern Ontario's mineral potential and bring multigenerational opportunities to northern and First Nation and Indigenous communities."
"We are excited to receive this important support from the Province of Ontario, which recognizes the significant potential of our Tabor Property," said Scott Walters, CEO of Big Gold. "This funding not only strengthens our ability to advance our maiden drilling efforts but also underscores the province's commitment to the mining sector. By unlocking the resources of the Shebandowan Gold Belt, we aim to contribute to both local economic development and Ontario's standing as a world-class mining jurisdiction."
About the Tabor Project
Tabor is adjacent to the east, along trend of Goldshore's Moss Lake gold deposit that hosts current inferred or higher category mineral resources of 6.73 million ounces gold, including an Indicated Resource of 1.535 million ounces gold grading 1.23 g/t and an Inferred Resource of 5.198 million ounces gold at a grade of 1.11 g/t* and Tabor is located approximately 20 km to the west of the Delta Resources Delta-1 Project ("Delta-1")* (Technical Report filed March 21, 2024 www.goldshoreresources.com).
Gold mineralization on the Project is, at least in part, associated with quartz veins, shearing and more abundant sulphides. Geological and mineralization characteristics at Tabor are similar to those found on some of the neighbouring properties, including Goldshore's Moss Lake project where a recent drill hole intersected 2.17 g/t gold over 50.35 m and at the Delta-1, where Delta Resources Limited recently (March 1, 2024) reported a drill intercept of 15.94 g/t gold over 10 m.
Figure 1: Tabor Property & Regional Claim Holders
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Figure 2: Tabor Property First Planned Pads
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Qualified Person
Bruce Durham, P.Geo., is a Qualified Person, as that term is defined by Canadian regulatory guidelines under NI 43-101 and confirms he has read and approved the technical information contained in this press release.
*The Project is at an early stage of exploration, and the Company cautions that the qualified person who has reviewed and approved this news release has not verified scientific or technical information produced by third parties, and proximity to projects containing gold resources offers no assurance that the rock types, mineralization or gold resources reported by Goldshore and others extend onto the company's project and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in the district.
About Big Gold Inc.
Big Gold Inc. is a junior mining exploration company. Its initial focus is to conduct exploration programs on the Martin Kenty and Tabor projects located in Ontario. Big Gold will also continue to consider other opportunities as they arise, with the objective of acquiring and exploring early-stage base and precious metal projects. Learn more about the Company on its website: https://biggold.ca/.
For more information, please contact investor relations at investors@biggold.ca.
On Behalf of the Board of Directors,
Scott Walters
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results.
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SOURCE: Big Gold Inc.
