Panama Lake Project

Ontario's Red Lake Mining District has become Canada's Gold Capital

Panama Lake Ontario

While Canada has had many prolific gold producing regions over the years, including many famous gold rushes, lately the Gold Capital of Canada rests in Red Lake, Ontario . Most of the gold production in the district has come from structurally controlled vein-type gold deposits near regional mafic volcanic-sediment contact or 'breaks.

The Company’s flagship Panama Lake gold project is in the world-class Red Lake mining district in Ontario, Canada known for high-grade Gold deposits.

GOLD was discovered on the shores of Red Lake by L.B. Howey in 1925.

  • Located 60 km east of Great Bear Resources “Dixie Lake“ discovery
  • Located near past producing South Bay and Uchi Gold Mines
  • Over 28 million ounces of gold produced to date in Red Lake district                 
  • 11,700 hectares land package, 88.5 sq. km
  • Excellent infrastructure including roads and skilled work force
  • 2019 Benton Resources drill program intersected  1.58gpt gold over 7.6m confirming the 1989 Noranda  Exploration results of up to 1.2gpt over 15m including 2.8gpt gold over 4.3m
  • Property hosts one of the highest gold grain counts in till sampling completed by the  Ontario Geological Survey (OGS) in the Red Lake district
  • 2019 geophysical survey traces known mineralized structures and has helped to  outline extensions and new mineralized structural trends  and targets

  • The diamond drilling has been laid out from 3 setups within the folded Panama Lake target areas   
  • The plan is for an initial 2000m of diamond drilling  with helicopter support to test the areas of the north fold                     
  • The first 2 holes drill target will be where  Benton Resources grab samples were  discovered. The second 2 holes will follow up west of the 2019 Benton drill results.
  • 4 holes approximately between 300m-500m each at -45 degrees will be drilled 
  • Each setup will cover near 800m of the favorable geology projected to surface and to find high grade gold zones

  • Original drilling at the Panama  Zone by Noranda, in 1989,  intersected up to 1.2 gpt gold over  15 m and 2.8 gpt over 4.5 m
  • Recent drill program by Benton  Resources confirmed Panama  mineralization with intercepts up  to 2.34 gpt gold over 4.7 m
    (Chart Below) 
  • Gold is hosted within a silicified  shear zone within strongly  deformed and hydrothermally  altered metavolcanic and  metasedimentary rocks
Tourmaline in mineralized quartz vein
Intense carbontate alteration in sheared argillite host rock

  • Highest glacial till gold grain count in the Red Lake district (Geological  Survey of Canada till survey)
  • New surface discovery - samples up to 6.17 gpt gold in arsenopyrite-rich quartz veins within a carbonate-altered shear  zone
  • Drilling intersected an 8.4 m wide zone hosting 0.18 g/t gold, confirming the prospectivity of the Slate Lake shear zone
  • New discovery – arsenopyrite- rich, gold-anomalous intensely altered feldspar porphyry
Sericite altered feldspar porphyry
Altered volcaniclastic with pyrrhotite stringers

PANAMA GOLD – Phase One Results 
(2019, Benton Resources)
Hole From (m) To (m) Interval (m) Gold (g/t) Composite
PL-19-01 79.6 87.2 7.6 1.58 1.58 g/t over 7.6 m
including 79.6 84.3 4.7 2.34 2.34 g/t Au over 4.7 m
PL-19-02 148.5 155 6.5 1.23 1.23 g/t Au over 6.5 m
PL-19-03 79.6 85.4 5.8 1.21 1.21 g/t Au over 5.8 m
including 82.4 84.4 2 2.55 2.55 g/t Au over 2 m
PL-19-04 72.8 78.6 5.8 1.07 1.07 g/t Au over 5.8 m
including 75.8 78.6 2.8 1.67 1.67 g/t Au over 2.8 m
PL-19-05B 77.5 93.6 16.1 0.57 0.57 g/t Au over 16.1 m
including 89 91 2 2.07 2.07 g/t Au over 2 m
PL-19-06 82 83 1 0.427 0.427 g/t Au over 1 m
PL-19-07 35.4 36.4 1 0.563 0.563 g/t Au over 1 m
PL-19-08 270.5 279 8.4 0.18 0.18 g/t Au over 8.4 m
PL-19-09 100 102 2 0.425 0.425 g/t Au over 2 m