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Stakeholder Gold Corp (2)
Symbol SRC
Shares Issued 15,163,782
Close 2016-06-13 C$ 0.45
Market Cap C$ 6,823,702
Recent Sedar Documents

Stakeholder Gold begins exploration on Ballarat

2016-06-14 10:33 ET - News Release

Mr. Christopher Berlet reports

STAKEHOLDER COMMENCES BALLARAT PROJECT EXPLORATION PROGRAM, YUKON

Stakeholder Gold Corp. has started exploration on its wholly owned Ballarat gold project located in the White Gold district of the Yukon territory.

GroundTruth Exploration Inc. will conduct the exploration program starting at the Northwest zone and will then move 7.5 kilometres east to the Eastern zone. Planned work for the phase one program includes:

  • A drone-generated high-resolution topographic survey of the entire property (about 40 square kilometres);
  • Detailed geological mapping of Northwest and Eastern zones;
  • Twenty-one DC IP-resistivity profiles at the Northwest zone totalling just over 8.2 line-kilometres;
  • Five DC IP-resistivity profiles at the Eastern zone totalling just over 2.1 line-kilometres;
  • A minimum of eight GT probe lines totalling over 3.15 line-kilometres to test the bedrock interface at five-metre intervals at the Northwest zone;
  • Conventional soil sampling at the Eastern zone over a grid measuring 1.3 kilometres by 1.7 kilometres.

The phase one program should take about four weeks to complete.

Pending success, the company is planning a phase two program for 2016 that will include RAB (rotary air blast) drilling of targets defined in phase one.

The target at Ballarat, like many of the gold deposits in the Yukon range, is a structurally controlled (orogenic) type, hosted by moderate- to high-grade metamorphic rocks that have undergone subsequent large-scale faulting and localized intrusion with accompanying hydrothermal alteration and mineralization.

On May 12, 2016, Kaminak Gold Corp. announced that Goldcorp Inc. had agreed to acquire the Coffee gold project by purchasing all of the outstanding Kaminak shares, a transaction value of $520-million (Kaminak press release, May 12, 2016).

The Coffee deposit is located about 17 kilometres southwest of the Northwest zone on Ballarat.

John Nebocat, PEng, is a qualified person under NI 43-101, and has reviewed and approved the technical portions of this news release.

We seek Safe Harbor.

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