Expedition Mining has signed an option agreement with Paul Dadwal to buy 100% interest in the Mt. Mervyn gold property.
This gold property is situated in Mayo Mining District, central Yukon, which is 5 kilometres from Rau property of ATAC Resources, where it has identified Carlin-type gold mineralization and contiguous to claim wedge of Strategic Metals.
The company along with Joy property gives them a great land positions in the latest Rackla gold belt. Recently, Expedition has announced $2.2 million funds to begin exploration at all Yukon properties this year and will proclaim widespread field programs.
The property consists of 314 unpatented mining claims, around 6,564 hectares that is sited in new Rackla Gold Belt. This is an initial phase exploration project having several delineated similaraties to Nadaleen Trend, which has Carlin-type gold mineralization.
The owners have reported that the claim block comprises calcareous rocks of the Hyland Group using first data assessment. This gold structure is similar to the ATAC claim block. This property also has several fault formations that are same as the structural sites near ATAC properties.
Geological Survey of Canada and Yukon Geological Survey have outlined the potential of gold mineralization using previous mapping and sampling. These works has identified gossans and sulphide mineralization on the claim block. The Mt. Mervyn property has tremendous prospective for hosting gold mineralization.
Source: http://www.expeditionmining.com/