VANCOUVER, Dec. 31, 2019 /CNW/ - Dixie Gold Inc. (TSX
VENTURE: DG) ("Dixie
Gold" or the "Corporation) is pleased to announce
that it has acquired a district-scale exploration project situated
in the developing Dixie Gold District near Red Lake, Ontario. As a result, Dixie Gold has become one of the largest mineral
claim owners in an emerging mining exploration camp with the new
project being located contiguous to both Great Bear Resources Ltd.
and BTU Metals Corp.
"We have established Dixie Gold Inc. as a leading player in
the emerging Dixie Gold District. Our new project successfully
positions Dixie Gold as a
significant participant in one of Canada's newest exploration camps.
Dixie Gold has a well-funded
treasury and we are looking forward to commencing gold and VMS
exploration work at our new project in the Dixie district during
2020," stated Ryan Kalt,
Dixie Gold's Chairman & Chief
Executive Officer.
The Red Lake Gold Project
The Red Lake Gold Project held by Dixie
Gold represents a district-scale exploration opportunity.
The project is approx. 21,258 ha (52,507 acres) in size and covers
1,044 mining claims.
A full-scale map of Dixie Gold's
Red Lake Gold Project may be found at:
https://dixiegold.ca/files/Dixie_Gold_DG_Map_HiRes.jpg
The Dixie Gold District is an emerging exploration camp with
contiguous property holders having had recent exploration success
involving both gold and base metal exploration. To this point,
Dixie Gold's new project is
immediately adjacent to projects being advanced by Great Bear
Resources Ltd. and BTU Metals Corp., situated northeast and east
thereof respectively.
The Corporation believes the new Red Lake Gold Project holds
both gold and base metal (VMS) exploration opportunities.
Dixie Gold will be providing
additional information regarding this new exploration project on
its website in the upcoming weeks. The website can be accessed at:
https://www.DixieGold.ca
The Red Lake Gold Project was acquired at a cost equal to claim
staking fees paid to the Government of Ontario. A pre-existing two percent royalty on
the claims was assumed by the Corporation.
About Dixie Gold Inc.
Dixie Gold Inc. (TSXV:DG) is a publicly-traded exploration
company involved in a diverse portfolio of exploration projects in
Canada. For more information,
please visit www.dixiegold.ca.
Signed,
Ryan Kalt, Chairman & Chief
Executive Officer
Forward-Looking Statements
This news release contains forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results
may differ materially from those currently expected or forecast in
such statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Dixie Gold Inc.