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Hemlo
– Gold, Ontario, Canada
Goldstake holds a 50% interest in the 104-acre property, which lies
adjacent to the Hemlo David Bell gold mine.
Geological evidence suggests that the Hemlo orebody might dip to the
north where Goldstake’s leases are located. As mining
on the David Bell Mine draws closer to the south-west side of
Goldstake’s property, the potential for this thesis to be correct
should be demonstrated.
See following map (Exhibit
10).
Clay (formerly McGarry) Property – Gold, Copper, Diamonds
Goldstake holds an option to earn a 75% interest on this property. The project consists of a Mining Lease and 22 contiguous unpatented mining claims covering an area of 2,285.6 hectares. Located in the Larder Lake Mining Division of Ontario, the Clay Property lies one mile northwest of the Kerr-Addison Mine, which has produced approximately 11 million ounces of gold historically.Previous diamond drilling by Goldstake resulted in multiple high grade gold intercepts, the best of which assayed 29.90 gtau per ton over 8.7 metres(28.5 feet). Previous exploration has discovered small diamonds on the south side of the property.
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