The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
NCG: TSX-V
President and CEO: John Williamson, P. Geol.
Vice President and CFO: Sean Mager
Vice President, Exploration: Peter Kleespies, M.Sc, P.Geol.
North Country Gold Corp. was spun out by CBR Gold Corp. (now Niblack Mineral Development Inc.) in April with assets in Canada and Australia and C$4.7 million in working capital.
The company is focused on advancing exploration and development of its Committee Bay and Baffin Island properties in Nunavut where it owns mineral rights to at least 225,569 hectares, or 557,323 acres of land comprising 216 active mineral claims and 14 mineral leases.
North Country resumed exploration in May within its Three Bluffs Gold Project in the Committee Bay Greenstone Belt - one of the largest under-explored greenstone belts in Canada - located about 300 kilometers, or 186 miles northeast of Baker Lake, Nunavut.
By late August, the junior had discovered the new Antler gold deposit, drilled high-grade gold intercepts in the Three Bluffs and Hayes deposits and identified gold mineralization in numerous rock types at Committee Bay within a corridor of sheared supracrustal rocks termed the Walker Lake Trend.
North Country believes the trend is part of a major shear-hosted gold system with significant resource potential for at least 15 kilometers.
Three Bluffs has an indicated resource of 508,000 ounces (2.7 million metric tons at 5.85 grams per metric ton gold) and an additional inferred resource of 244,000 ounces (1.27Mt at 5.98 g/t gold).
Tests show the deposit is amenable to open pit mining and a combination of gravity and flotation extraction followed by cyanide leaching of the concentrates.
The deposit remains open to the west and to depth.
The junior also commissioned a Titan induced polarization geophysical survey to test for additional blind mineralization.
Cash and short-term deposits: C$3.66 million (at July 27, 2010)
Working capital: C$3.19 million (at July 27, 2010)
Market capitalization: C$26.25 billion (Sept. 1, 2010)
9797 45 Ave., Suite 220 Edmonton, AB Canada T6E 5V8
Tel: 780-437-6624 Fax: 780-439-7308
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