Coronet Metals (TSXV: CRF) announced this week that it has entered into an agreement to gain 100% interest in 3,888 mineral claims totalling over 62,000 hectares in the Meguma Gold Belt located in Nova Scotia, eastern Canada.
In a press release, the company explained that the claims are adjacent and along trend from Atlantic Gold’s Touquoy disseminated open-pit gold deposit. On its website, Atlantic Gold states that, in this area, it has outlined a measured plus indicated resource of 10.1 million tonnes grading 1.5 gram per tonne for a total of 480,000 ounces of gold, plus an inferred resource of 1.6 million tonnes and 77,000 ounces of gold.
According to Coronet, its new claims were staked along the under-explored trends of known gold producing anticlinal structures. The company estimates that it will control approximately 242 kilometres of gold-prospective anticlines.
To better define the anticlinal trends and focus a Phase-1 exploration program, the Vancouver-based miner initiated a 12,342 kilometre aeromagnetic and radiometric survey along with a 1,110 square kilometres of LiDAR survey...