MAYO LAKE MINERALS INC.
August 5, 2019
Mayo Lake Executive Summary, August 5, 2019
August 2, 2019
Mayo Lake Minerals to consolidate Shares on a 3 for 4 Share Basis. Amended August 5.
August 1 , 2019
Mayo Lake Minerals to Raise Up to 2.4 Million Dollars.
Sub-Receipt Offering for up to $2.4 Million Dollars Closing on or about August 31, 2019
Mayo Lake Minerals Inc.
Mayo Lake Minerals Inc. (MLM) is a private Ontario-based company that owns a 100 per cent interest in five claim blocks, presently consisting of 1139 quartz claims, in the Mayo Mining District of the Yukon. These claim groups all lie within the Tombstone Plutonic Belt of the Tintina Gold Belt (TGB).
During 2010 and 2011, staking and exploration accelerated throughout the Yukon, due to the realization that numerous styles of mineralization had been previously.
MLM acquired the claim groups because of:
- previously overlooked analytical results of stream sediment, and most importantly, overlooked assays of heavy mineral samples for gold, which were all collected and reported by the Geological Survey of Canada in the Mayo-Keno Hill area in the 1960s.
- Unexplored terrain in Historic Gold Placer district
- favourable geology, including their location within the Tombstone Plutonic Belt, and the proximity to structural elements within the Belt.
Between 2012 and 20016, MLM received positive results from its limited budget geochemical and geophysical surveys and used these results to define mineralized targets for drilling on its claim groups. On MLM’s most advanced property, the Anderson-Davidson claim group, MLM has defined a 10-kilometre-long gold trend, including drill-ready gold targets. Scout drilling in 2017 has defined a significant gold occurrence where the geology and geophysics support potential for a good sized gold deposit along a structural feature. Much of the property is yet to be prospected or screened by geochemical surveys.
All of MLM’s claim groups are located close to road infrastructure, with the three largest of them directly accessible by road. The nearby Wareham Dam has the potential to increase capacity to power more nearby projects.
MLM’s claim groups share a portion of the Tombstone Plutonic Belt that contains Goldstrike’s exciting Plateau Project. Goldstrike recently entered into a C$53,000,000 strategic alliance to explore and develop the Plateau Project and plans 10,000 metres of drilling for the 2018 season.
The Yukon is a mining-friendly jurisdiction ranked fifteenth by the Fraser Institute out of 109 jurisdictions globally in 2016. The Mayo area itself has a long history of placer mining and large mining projects such as Alexco Resources’ silver mines at Keno Hill and Victoria Gold’s Eagle Gold mine under construction at Dublin Gulch.