Ready Set Gold Corp (CSE:RDY) (FRA:0MZ) said a new compilation and interpretation completed by its geological team at the Hemlo Eastern Flanks North claim in Ontario, Canada, has identified a prospective trend that extends from the Hemlo Deposit onto the project area.
The precious metal explorer said the favorable trend at the Hemlo Eastern Flanks North claim, located south-east of its flagship Northshore gold project, is defined by historical geological mapping that has been completed in the area and is supported by a strong lineation within the government magnetic data.
READ: Ready Set Gold completes Phase 1 drilling at its Northshore Gold project in Ontario
Ready Set Gold added that the compilation has also identified that where the trend enters the Hemlo Eastern Flanks North claim, the prospective rock suite appears to be intensely folded and structurally complex, which it said is a favorable setting for the potential of a large-scale gold system.
"It is a very encouraging start to our evaluation work on the large and prospective Hemlo Eastern Flanks property. Not only has our initial compilation identified a very significant geological and structural trend with supporting geophysics, it is also showing us that the rock-type and geological environment is very similar to that at The Hemlo Mine, where there is a lot of structural complexity adjacent to the Cedar Lake Pluton,” Ready Set Gold’s vice president of exploration, Brad Lazich, said in a statement.
“This new compilation now gives us a more focused early-stage exploration model to start advancing the project and generating drill-ready targets," he added.
The company also said that it is preparing for an initial reconnaissance exploration program of the claims, which is expected to include a detailed airborne and or ground magnetic survey, followed by surface mapping, sampling, and a soil survey.
"While the company's focus remains on our flagship property at our Northshore Gold project, we are extremely encouraged by the new compilation and interpretation on this property. It demonstrates, to our shareholders that the management and directors of the company are rapidly unlocking shareholder value and additional upside. We look forward to the end of Q2 or early Q3 of this year to advancing the Hemlo Eastern Flanks project," said Ready Set Gold chief executive and director Christian Scovenna.
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