TORONTO, CANADA (May 28, 2019) – Golden Share Resources Corporation (“Golden Share” or the “Company”) (TSX-V: GSH) is pleased to announce the recent acquisition of its 100% owned Basking Project through map staking. The Basking Project (“Basking” or “the Project”) is located approximately 100 km north-northwest of the Ring of Fire nickel and chromite deposits in northern Ontario, Canada. The Project is made up of four small non-contiguous claim blocks totaling 34 single cell mining claims.
The Basking Project is near the western edge of the James Bay Lowlands and is located within the Oxford Stull Domain in the Archean Superior Province. Limited drilling in the area but outside of the Project boundaries, reports about 5 m of unconsolidated sediments overlying Precambrian bedrock. There is no outcrop, and the geology is largely inferred from aeromagnetics. The Basking Project area has been lightly explored, including 2 drill holes searching for diamondiferous kimberlite in the 1990s and 5 drill holes targeting base and precious metals in 2013. All drill holes are outside the Project’s claim blocks.
Two of the Basking claim blocks are centered on base metal targets (EM anomalies) in an area of linear, northwest trending magnetic axes immediately north of an interpreted belt of metavolcanics north of the North Kenyon fault. The other two claim blocks are diamond and/or base metal targets (coincident EM and magnetic anomalies) in mafic to ultramafic intrusives just south of the North Kenyon fault. Regional aeromagnetics suggests the North Kenyon fault or shear zone is hundreds of kilometers long with lateral displacements of several tens of kilometers. It has an aeromagnetic signature similar to other important structural features in the Superior Province that are known to host important gold mining camps.
Following small confirmatory airborne or ground geophysical surveys, all 4 targets should be ready for drill testing.
All technical information in this release has been reviewed and approved by Wes Roberts., P.Eng., who is the Qualified Person for the Company.
About Golden Share
Golden Share Resources Corporation is a junior natural resource company focusing on mineral exploration in the province of Ontario, Canada, a mineral rich and politically stable jurisdiction.
WARNING: Certain statements in this press release may be forward-looking, including those with respect to the timing and content of up-coming work programs, geological interpretations, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks, uncertainties and assumptions. Actual results may differ materially from those currently anticipated in such statements. The Company relies upon litigation protection for forward-looking statements. The reader is warned against undue reliance on these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
For more information, please visit www.goldenshare.ca or contact:
Golden Share Resources Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199