Golden Dawn Minerals Inc. [GOM TSXV] has signed an LOI with New Nadina Explorations Ltd. [NNA-TSXV] regarding the acquisition of New Nadina’s 100%-owned subsidiary, Kettle River Resources Ltd. The acquisition will significantly increase Golden Dawn’s properties in the historic Greenwood Mining District in south-central British Columbia.
The Kettle River mineral properties, covering ~10,400 hectares, host several significant historic mines, mineral deposits and exploration targets. The acquisition, the company says, “comes with an extensive database representing 120 years of geological and mining information, comprised of files, records, reports and maps, rock specimen samples, and a core storage library.”
In September, Golden Dawn announced that it had closed its acquisition of Huakan International Mining Inc.’s Greenwood gold project consisting of a 200-400 t/p/d gravity-flotation processing facility, the Lexington and Golden Crown underground gold mines.
The highly prospective acquisition adds significant mineral rights to the May Mac, Lexington and Golden Crown mines where Golden Dawn is working toward renewing operations. Work has commenced to reactivate the Greenwood mill which had been on care-and-maintenance for eight years.
In September, rehabilitation began of adits No. 6 and 7 at the May Mac Mine, with the stated objective of “cutting drilling stations for extensive underground drilling together with extending access to allow bulk sampling.” Plans call for bulk sampling to be processed at the Greenwood mill.
Golden Dawn, in a September news release, stated that they anticipate, “for the year-end of 2016, completion of the underground and surface exploration of the May Mac mine, and completion of the mill rehabilitation to process the first bulk samples from the May Mac mine in the first quarter of 2017. Post dewatering of the Lexington mine, trial mining will commence in the second to third quarter of 2017. The Golden Crown mine is planned to be placed into operation in the second quarter of 2018.”
More than 25 former mines operated in the Greenwood Mining District that the company says, “hosts several significant polymetallic vein deposits and more than 120 surrounding mineral prospects”.