Gold fever hits Newfoundland

Newfoundland's Moosehead Gold District, located in the north-central part of the Canadian province, made headlines this week as different miners announced the acquisition of a number of projects in the area.

First, management at Ontario-based RJK Explorations (TSX-V: RJX.A) said that it has agreed to acquire the Moosehead Gold District Project from an unnamed private company. The project consists of 208 claim units representing exclusive exploration rights to approximately 5,200 hectares.

Moosehead Gold’s tenures are adjacent to and on-trend with the mineral license hosting Sokoman Iron Corp.’s (TSX-V:SIC) recently announced discovery hole. The latter reported a drill intersection of 44.96 grams per tonne (g/t) gold over 11.9 metres.

For this acquisition, RJK has to raise $1 million for exploration by conducting a non-brokered private placement and it has to acquire 100% of the issued and outstanding shares of the seller through the issuance of an aggregate of 9,660,000 Class A Common shares of the firm the private company’s shareholders and make an aggregate cash payment of $100,000 to them.

Vancouver-based Sunvest Minerals (TSX-V: SSS), on the other hand, announced it plans to acquire two claim blocks of the 165-claim-units, 4,215-hectares Moosehead North Gold Project. The blocks are also situated near and on-trend to the northeast of Sokoman’s Moosehead Gold Project and also are on-trend and adjacent to the claims recently announced by Pivit Exploration (CSE:PIVT).

“The acquisition of the Moosehead North represents a fantastic early-mover position in a new emerging gold exploration district in Canada.y,” Michael England, CEO of Sunvest, said in a media statement.

Similarly, Tasca Resources (TSX-V: TAC) announced that, by way of paying $15,000 and issuing 1,500,000 million shares to an undisclosed vendor, it has acquired a 600-hectare property in the Moosehead Gold area, 6.2-kilometres east of Sokoman’s Moosehead Gold Project.

In a press release, Tasca explained that both properties lie along a northeast-trending, 150 kilometres belt of Silurian volcanic, volcaniclastic and sedimentary rocks with associated intrusives. Mineralization in the area is associated with east-west trending quartz veins associated with a north-dipping fault system.

Finally, Makena Resources (CSE: MKNA) purchased a 100 per cent interest in a 600-hectare property comprised by 25 claims located 3.5 kilometres east from the eastern boundary of the Sokoman Moosehead Property and approximately 6.2 kilometres east northeast from the discovery drilling location.

In a media statement, Makena said it will have to further investigate the potential for gold in quartz veins and will also perform a compilation of historical data to better define anomalies on the property.