Golden Share Acquires Monster Island Directly Adjacent to Iamgold Monster Lake Option
April 10 2014 - 9:16AM
Access Wire
TORONTO / ACCESSWIRE / April 10, 2014 Golden Share Mining
Corporation ("Golden Share" or the "Company" - TSXV:GSH) is pleased
to announce it has entered into an option agreement with Vanstar
Mining Resources (VSR:TSXV) to acquire a 100% interest in the 20
claims Monster Island Gold Property ("Monster Island") located
about 40 km southeast of Chibougamau in Northwestern Quebec,
Canada.
Monster Island is located in the heart of the new Monster Lake
gold play, immediately adjacent to the east of the Monster Lake
property ("Monster Lake"), the main focus of a November 2013 $17.6M
option agreement between TomaGold Corporation and Iamgold
Corporation. The deal with Iamgold was prompted by recent high
grade gold diamond drill discoveries on zone Annie with 237.6 g/t
Au over 5.7 m (2012 DDH M-12-60) and on zone 325 with 101.2 g/t Au
over 4.5 m (2013 DDH M-25-11) and 42 g/t Au over 7.2 m (2013 DDH
M-13-95). Iamgold is currently executing an initial diamond
drilling program of at least 6,000 m on Monster Lake.
Gold in the area appears associated with northeast trending
shear zones, the two principal ones being the Nouvelle Corridor,
host of the Monster Lake mineralization, and the Fancamp Corridor
host of several high grade gold occurrences located immediately to
the north of Golden Share's Monster Island on the Murgor Resources
property (Please see figure.1 below or visit :
http://www.goldenshare.ca). Preliminary interpretation suggests
such structures may also underlie Golden Share's Monster Island
(Please see figure. 2 below).
As highlighted on the regional figure (Please see figure. 3
below), gold mineralization is also well developed to the south of
the property with the historical Joe Mann deposit located about 8
km southeast of Monster Island. Additionally, Vanstar reported a
new discovery on their Nelligan property in November 2013 with a
drill intercept of 1.84 g/t Au over 31 m.
Golden Share can acquire a 100% interest in Monster Island over
three years by meeting the following conditions :
-By paying the Vendor a total of $45,000; $5,000 upon signature
of the agreement, $20,000 on the first anniversary date and $20,000
on the second anniversary date;
-By issuing the vendor a total of 450,000 Golden Share common
shares in tranches of 100,000 shares upon signature of the
agreement, 150,000 shares on the first anniversary date and 200,000
shares on the second anniversary date;
-By incurring a total of $350,000 of exploration expenditures in
tranches of $100,000 during the first year, $100,000 during the
second year and $150,000 during the third year.
Following the acquisition of a 100% interest by Golden Share,
Vanstar will retain a 2% Net Smelter Return (the "NSR"). In the
event that Commercial Production would be achieved on the Property,
Golden Share will have the right to purchase 1% NSR of the 2% NSR
held by Vanstar for $1,000,000.
About Golden Share
Golden Share Mining Corporation is a Canadian-based mining
exploration company developing a promising and well-balanced
property portfolio in the mineral belts of Eastern Canada, a
politically stable environment with a history of rich mineral
endowment.
On July 25, 2013 shareholders of the Company approved the merger
with Silvore Fox Minerals Corp., a Canadian junior explorer listed
on the TSX Venture Exchange (see press release dated July 25,
2013). Following this transaction Beijing Donia Resources Co. Ltd.,
a Chinese state-controlled company, has become Golden Share's
largest shareholder with approximately 24.37% of its issued and
outstanding shares. Sinotech Minerals Exploration Co. Ltd., a
leading Chinese mineral exploration and development company, is a
50.03% shareholder of Beijing Donia Resources Co. Ltd (For further
details please see the recent Sinotech corporate presentation on:
http://www.goldenshare.ca).
This new Chinese partner recognizes the value of Golden Share's
well balanced portfolio of properties and sees the merged entity as
an ideal platform to further develop its activities in mining
exploration and development in North America, and notably in
Eastern Canada, a politically stable environment with a history of
mineral endowment.
Golden Share's exploration programs are executed under the
supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a <<
Qualified Person >> as defined in National Instrument 43-101,
and Vice-president Exploration of Golden Share. Philippe Giaro,
P.Geo., President and CEO of Golden Share and Qualified Person for
Golden Share, has reviewed and approved the content of this
release.
FOR MORE INFORMATION, CONSULT: http://www.goldenshare.ca
OR OUR FACEBOOK PAGE AT:
https://www.facebook.com/golden.share.9
Golden Share Mining Corporation
Philippe Giaro, President & CEO
Tel: 1-905-968-1153 or Tel: 32-473-52-30-29
E-mail: phgiaro@skynet.be or E-mail: info@goldenshare.ca
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Figure. 1 - Monster Island and Monster Lake play
Figure. 2 - Monster Island and Monster Lake play magnetic
gradient
Figure. 3 - Monster Island and Monster Lake play regional
geology
SOURCE: Golden Share Mining Corporation
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