JSHG Acquires The Champion Gold Mine
Joshua Gold Resources Inc. (JSHG) has acquired the Champion Mine in Northwest Ontario, boosting its gold and silver mining portfolio. The acquisition follows the patent owner's tax default, allowing JSHG to gain 100% ownership of the mine, which has historical records of ore milling since 1926. The mine features three mineralized shear zones and a shaft extending 235 feet deep. JSHG plans to conduct sampling this month to evaluate the mine's potential, signaling strong exploration prospects and possible revenue growth.
- Acquisition of Champion Mine enhances JSHG's gold and silver mining portfolio.
- 100% ownership obtained due to tax default of the previous patent owner.
- Historical ore milling data suggests potential mineral wealth.
- Plans for extensive geological sampling and exploration work.
- None.
WOODSTOCK, ONTARIO, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Joshua Gold Resources Inc. (“JSHG” or “Joshua”) (OTC Pink: JSHG) is pleased to announce that it has acquired the Champion Mine (UTM, NAD 83, Easterly 404799.37, Northerly 5513456.90) in the Kenora region of Northwest Ontario in Haycock Township. JSHG acquired the gold and silver mine as it owns contiguous mineral claims to the mine and the patent owner defaulted on the taxes, placing the mine under
The Champion Mine was discovered in 1898. Historical records are sketch but in 1926 231 tons of ore was milled producing 107 ounces of gold and 15 ounces of silver-see http://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI52E16SW00003.html
Fred Sharpley, P.Geo, QP (Qualified Person) describes the Champion Mine’s geology:
“The Haycock Gold Property consists of northeast trending Island Lake Quartz Diorite and mafic volcanics to the south.
Shearing at 030 degrees later occurred in both rock types with banded quartz-tourmaline gold mineralization.
The property consists of three mineralized shear zones, the Silverman, Treasure and East, located 9 km east of Kenora on Highway 17 in the Quartz Diorite over a strike length of 600-1000 meters.
The Champion Mine Shaft on the Silverman Zone was sunk to a depth of 235 feet with an inclined shaft, with levels at 120 and 220 feet. Six diamond drill holes in 1945-46 totaling 230 meters returned gold values over a length of 14 feet assaying 0.40 oz/t, 0.56 oz/t over 11 feet: 0.48 oz/t over 7 feet and 0.176 oz/t over 1.5 feet.
It is recommended to carry out mechanical stripping, surface check sampling followed by 1000 meters of diamond drilling on the three zones.”
This month, JSHG’s geology team will be sampling the shaft on the Champion Mine and will release the findings.
About Joshua Gold Resources Inc.
Joshua Gold Resources Inc. (OTC Pink: JSHG) is a publicly traded American gold and mineral exploration company headquartered in Canada, home to the 3 billion-year-old Canadian Shield which contains a wealth of minerals from nickel, gold, copper, lithium, cobalt, niobium, lithium to chromium. Please visit http://www.joshuagoldresources.com/ for more information.
Safe Harbor Statement: This press release contains forward-looking statements of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward looking statements are not a guarantee of future performance and results, and will not be accurate indications of the times, or by, which such performance will be achieved.
Investor Relations Contact:
Peter Nicosia
President, Bull In Advantage, LLC
Phone: (585) 703-6565
Email: bullinadvantage@aol.com
FAQ
What is the significance of Joshua Gold Resources' acquisition of Champion Mine?
What are the geological features of the Champion Mine?
When will JSHG release findings from the Champion Mine sampling?
What historical production data is available for the Champion Mine?
How deep is the Champion Mine shaft?
