Ready Set Gold Corp has provided a corporate and operational update relating to the activities of its restructured executive and board, Indigenous consultation process, and activities at the Northshore and Hemlo Eastern Flanks projects in northern Ontario, saying it has made “significant progress” in terms of defining a path forward to position the company for future opportunities.
Of note, the precious metals exploration company said it has decided to complete an update on the historical mineral estimate at the Northshore project during the second and third quarter of 2022, after compiling all the fragmented historical work that occurred on the property from 1988 to 2022 into a comprehensive and complete database.
“Despite the significant time required to locate and compile all the available historic exploration data, the company can now move forward with a clear understanding of historic challenges,” Ready Set Gold CEO Alex McAulay said in a statement.
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“(The company) is currently updating the resource model at the Northshore project, prior to committing additional capital to drilling or exploration work,” McAulay added.
Ready Set Gold noted the new resource estimate will incorporate an additional 52 drill holes from the previous report completed in 2014, with an update expected in 10 weeks.
The company also said its executive team and board has undergone a significant restructuring over the course of 2022, which has required a review of operational, financial, and legal considerations.
It added that its management team has taken “significant” steps forward to engage with Indigenous groups, including initiating consultations for both projects and addressing a historical lack of communication from the company, which caused delays in this important element of operating a mineral exploration company in northern Ontario.
The company noted that, going forward, it will not be staking claims or acquiring projects without consultation with local First Nations in advance of acquisitions.
To that end, Ready Set Gold said it will continue to evaluate new project opportunities in 2022, and also anticipates changing the company's name over the summer to reflect its new direction and mandate related to a possible expansion of its exploration commodity focus.
Ready Set Gold is a precious metals exploration company that has consolidated and now owns a 100% interest in the Northshore gold project, located in the Schreiber-Hemlo Greenstone Belt near Thunder Bay, Ontario, which is prospective for gold and silver mineralization.
The company also owns a 100% interest in two separate claim blocks totaling 4,453 hectares known as the Hemlo Eastern Flanks project and also holds an option to acquire a 100% undivided interest in a continuous claim block totaling 1,634 hectares comprising the Emmons Peak project located 50 kilometres south of Dryden, Ontario that is near the Treasury Metals Goliath and Goldlund advanced gold development projects.
Contact Sean at sean@proactiveinvestors.com