The new junior explorer Gold Hunter Resources Inc. (CSE: HUNT) has acquired a series of five properties in Newfoundland and Labrador, thereby extending its land position by 239 per cent.
The company announced completion of the acquisition on Monday for the properties adjacent to its 5,085-hectare Rambler project and now has a land package spanning 17,228 hectares.
Gold Hunter says the Baie Verte Peninsula where the new properties are situated, often described as “the heart of mining in Newfoundland,” is renowned for its rich mining history and diverse mineral resources including gold, copper and zinc. The gold miner acquired the Rambler project from Newfoundland’s Fair Haven Resources in January last year.
The company also announced that it had now joined the Mining Association of Newfoundland and Labrador, an organization established in 2010 to help regulate the industry there.
Canada’s Fraser Institute recognized the province as the fourth most attractive mining jurisdiction to invest in last year.
Newfoundland map showing the newly acquired properties. Photo via Gold Hunter Resources
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Gold Hunter completed its initial public offering of 5.75 million shares at $0.15 a piece in February, 2021 and listed on the Canadian Securities Exchange.
The company is currently focused on the Rambler and Tilt Cove projects in Newfoundland and the Cameron Lake East project in northern Ontario.
Gold Hunter’s President and CEO Richard Macey said last June that the Rambler and Tilt Cove properties have outcropping massive sulphide mineralization at surface which has yet to be drill tested in modern times.
Other gold mining companies operating in Newfoundland include Sky Gold Corp. (TSX-V: SKYG), operator of the Mustang project; Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF), a company focused on its flagship Moosehead gold project in central Newfoundland; and Opawica Explorations Inc. (TSX-V: OPW) (OTC: OPWEF).
Gold Hunter shares dropped by 8 per cent on Wednesday to $0.23 on the Canadian Securities Exchange. Gold is currently worth $2,605.30 per ounce.
rowan@mugglehead.com
