Red Lake Gold Acquires Moray East Gold Project in Ontario's Prospective Region
Red Lake Gold Inc. (CSE: RGLD) has acquired the Moray East Gold Project in Ontario, Canada. The project, covering approximately 4,380 hectares, is contiguous to New Break Resources Ltd.'s Moray Gold Project, where a recent gold discovery was made. Red Lake Gold holds a 100% interest in the project on a royalty-free basis, save to the Crown.
The Moray East Gold Project provides exposure to a prospective gold region in Ontario with recent discovery intercepts. It shares a claim border to the east with Alamos Gold Inc. and is surrounded by other gold projects owned by companies such as Great Bear Resources and Pure Gold Mining, both of which have known gold mineralization on their adjacent properties. The project itself covers a variety of mapped geological settings, including volcanic rocks with potential gold-hosting environments. Red Lake Gold acquired the project the same day as the New Break gold discovery was announced, indicating the company's keen interest in the region's gold potential.
The Moray East Gold Project, with its strategic location and diverse geological settings, presents an exciting opportunity for Red Lake Gold Inc. While results from other projects are not necessarily indicative of results on the Moray East Gold Project, the recent gold discovery nearby and the project's exposure to a prospective gold region suggest potential for future exploration success.
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