Miners are Heading to Central Newfoundland Gold
The Central Newfoundland Gold Belt (CNGB) is seeing a significant amount of interest from investors and gold explorers.
In fact, one of the major players in the region, Marathon Gold Corporation (TSX:MOZ)(OTC:MGDPF), “has opened people’s eyes to the potential for Newfoundland – and the Maritimes in general – to host large scale gold deposits,” said Matt Manson President and CEO, as quoted by Resource World. Also operating in the region, TRU Precious Metals Corp.’s (TSXV:TRU)(OTCQB:TRUIF) Golden Rose Project lies on strike with Marathon Gold’s Valentine Lake Project on a structural corridor that transects the full length of the project. Other companies benefiting from the CNGB are Altius Minerals Corporation (TSX:ALS)(OTC:ATUSF), New Found Gold Corp. (TSXV:NFG)(OTC:NFGFF), and Exploits Discovery Corp. (CSE:NFLD)(OTC:NFLDF).
“A wave of junior miners are rushing to get land positions in the area after the New Found Gold Corp. discovery of 92.86 g/t gold over 19m (included 285.2 g/t Au over 6.0 meters) was announced in January 2020. A major advanced project in Newfoundland is the Valentine Project that has proven and probable reserves of 1.87 million ounces of gold and a resource estimates of 3 million M&I ounces of gold,” added Investor Intel.