On your marks, get set, go: Ready Set Gold Corp will be available on Monday, January 11th, 2020 under the Ticker symbol RDY on the Canadian Securities Exchange (CSE). The German stock exchange listing will follow shortly. Ready Set, equipped with around CAD 3 million from the IPO, starts as an advanced exploration company with the Northshore flagship project in the mining-friendly Hemlo-Schreiber greenstone belt in Ontario.
A historic NI 43-101 resource estimate from 2014 shows indicated resources of 391,000 ounces of gold (12.36 million tonnes grading 0.99 g / t Au) and inferred resources of 824,000 ounces gold (29.58 million tons grading 0.89 g / t Au) for a total of 1.215 million ounces in the so-called “Afric” zone. Only a small part of the project has been explored using modern methods. Ready Set Gold wants to demonstrate on Northshore that the project has multi-million ounce gold potential.
Ready Set Gold consolidated the Northshore project in early 2020 from a fragmented ownership structure just at the moment before the minority owner Balmoral Resources Ltd. (44%) was taken over by Wallbridge Mining (TSX: WM). Subsequently, the Junior Explorer CBLT Inc. contributed its 56 percent project share to Ready Set Gold. For the first time in a long time, Northgate is 100 percent owned by a single company! In retrospect, Ready Set Gold should have had a happy moment for the transaction. Wallbridge and CBLT received a total of just around CAD 500,000. Following the transaction, Wallbridge will hold 1.41 million shares (4.7%) of Ready Set; CBLT has 1.79 million shares (5.99%). Both share packages have a quarterly, voluntary holding period of up to 12 months.
The Northshore Project is 4 km south of the Trans-Canada Highway and covers an area of 2.55 km2. As the crow flies, Northshore is approximately 115 kilometers from the high-grade Hemlo Mine (Barrick Gold) to the west, which has produced over 21 million ounces of gold.
See the investor presentation here at.
Shortly after the project was consolidated, the Ready Set Gold technical team compiled the extensive data that had accumulated on the project in a unified database. In addition, geophysical surveys from the air and two successful surface exploration programs were carried out in summer and autumn 2020. The results of these exploration programs have been excellent, discovering many new gold bearing veins and generating short term drill targets.
Ready Set Gold has put together a strong team with both capital market and exploration experience to develop Northshore and the portfolio of other projects quickly and precisely.
Ready Set Gold raised nearly CAD 3,000,000 in November 2020, providing sufficient funding for the first drill program, which is scheduled to begin as early as January 2021. In particular, the drilling will continue to test the extent of the known resource area (the Afric Zone) through infill and step-out targets as the Afric Zone is open in all directions and at depth.
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