TORONTO – Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE: 3S3) announced the increase in its land position at its Lingman Lake Project within the prolific Red Lake geologic district in Northwestern Ontario.
The previously held claims, excluding the 18 held patented claims, of 604 has been increased to 1,066 claims. When added to the 4 full patent claims and 14 mineral rights patented claims held, Signature now holds a total of 1,084 claims (20,124 hectares).
The updated claim package covers a huge land holding defined by a near 30 km E-W strike distance and 202 square kilometers of highly prospective mineral potential. The Signature team says it is excited with its plans to commence a significant regional exploration program commencing in the spring of 2021. The program will be focused on following-up on previously completed regional exploration work identifying and unlocking multiple high-potential regional drill targets throughout its massive land package.
“The addition of 462 claims to Signature’s Lingman Lake property, which cover complex structural domains beyond the all-important North Contact, has enhanced the district scale potential of the Lingman Lake land package. We look forward to undertaking regional and targeted exploration programs to assess this potential in the up-coming field season”. Walter Hanych – Chief Geologist
The Lingman Lake gold property consists of 1,066 staked claims, four freehold full patented claims and 14 mineral rights patented claims totaling approximately 20,184 hectares. The property hosts a historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
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