The Ratte Lake property is 100% owned by Golden Share, located northwest of Lake Nipigon, approximately 35 km northeast of the community of Armstrong, northwestern Ontario. Ratte Lake is comprised of 15 single MLAS cell claims, lies in the north-central portion of the Caribou Lake greenstone belt. The property is accessible from Armstrong via local forestry access roads. Armstrong is 250 km north of Thunder Bay at the end of Highway 527.
In 1980, the New Jersey Zinc Exploration Company (Canada) Ltd. (“New Jersey Zinc” or “NJZ”) flew an airborne DIGHEMII electromagnetic (EM)/resistivity/EM magnetite/magnetometer survey in the Armstrong area which included the property area. Numerous conductor targets were located for which ground follow-up work was recommended.
In 1981, New Jersey Zinc followed up airborne targets within the Ratte Lake area with ground magnetic, horizontal loop EM (HLEM) and gravity surveys. The ground surveys highlighted two HLEM conductors (16 and 17) as potential VMS targets. NJZ conductors 16 and 17 are parallel, strong, shallow, east southeast trending conductors that are up to 50m apart and approximately 1 km long. Trenching or overburden drilling was recommended but no further work was recorded.
Forestry operations in the Ratte Lake area have provided road access to the immediate area of the two HLEM conductors of interest, and in 2014, GeoFortune Resources completed a two-line orientation MMI soil survey over NJZ conductors 16 and 17. Samples were collected every 25 m at 38 sites. The main commodity element response included Cu, Pb, Ga, Ag and Au on Line 1. Line 2 was marked by two areas of elevated responses and includes one of weakly elevated Au, Ag, Cu, and Zn and another of elevated Cu, Ag and Au. Prospecting, trenching and additional MMI soil sampling were recommended as a follow-up. No further fieldwork was completed.
Planned work by Golden Share at Ratte Lake aims to test the NJZ conductors 16 and 17 for VMS potential. Initial work will include grid line cutting and ground HLEM/magnetometer surveys to confirm the location of the NJZ conductors. Geological mapping and prospecting will also be conducted. Additional MMI sampling, surface trenching and follow-up diamond drill testing of the NJZ conductors will be completed based on the results of the geological and geophysical surveys.
In December 2020, Golden Share received the exploration working permits for ground geophysical works and drilling.