EDITOR: | May 15th, 2015

GTA Resources’ got Gold

| May 15, 2015 | No Comments
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Gold_VC+GTA Resources and Mining Inc. (GTA.V), announced good news today regarding their golden deposits in the historic gold mining regions of northern Ontario. They reported excellent progress for both their Ivanhoe and Northshore properties. They expect more definitive numbers in the next month, and an updated NI 43-101 report on Northshore. GTA’s Ivanhoe claim includes the historic Joburke Mine which produced 500,000 tons at a grade of 3.4 g/t gold. If GTA can produce like that, they might approach the day in 2012 when the stock price rose 800%, going from 18c to $2, in a single day! This raised roughly 6M.

Northshore

The Northshore property might be able to produce within a year. One of the plans is an open pit mine with a low strip ratio that will keep costs low and investors happy. Part of why costs may stay low is that mineralization begins at the surface, and appears to remain open at length and at depth. So there is likely even more gold to be found. Selected grades of an earlier drill program were, -3.21 g/t Au, over 150 metres, and 760 g/t over .3 metres. Since then they spent just over $2.5M at Northshore in two and a half years, to earn a 51% joint venture interest in that property, with a 1.2M resource estimate under the June 2014 NI 43-101. The joint venture is with Balmoral Resources Ltd.

According to the release, in June, 2014, the NI 43-101 mineral resource estimate was 391,000 ounces of gold in 12,360,000 tonnes at a grade of 0.99 g/t gold, and 824,000 ounces of gold in 29,580,000 tonnes at a grade of 0.87 g/t gold, with all resources open for expansion.

Ivanhoe

GTA, as of May 5th 2015, has entered into year 2 of the Ivanhoe Option Agreement.  GTA can earn a 100% interest in Ivanhoe by making staged cash payments totaling $ 260,000 over 5 years, share issuances of 1,000,000 shares over 5 years, and incurring minimum exploration expenditures of $260,000 over two years.

GTA also increased the size of the Ivanhoe land package by roughly 40%. The Ivanhoe Property did cover approximately 94 sq. km, but GTA acquired 4 claims (47 units) in the central portion in June, 2014, and an additional 13 claims (191 units) to the southwest in March, 2015. Ivanhoe now consists of 829 claims units covering an area of 132.58 km.  They state that they are fully funded for this exploration, having raised flow through funds last fall.

Since last fall, GTA completed 30 km of line cutting. The survey results outlined a number of discrete anomalies coincident with gold mineralization identified during prospecting work completed during fall 2014. Further exploration, including detailed mapping, prospecting and sampling, is planned to begin shortly with a focus on the  geophysical anomalies. Diamond drill testing of these target areas is expected to commence late summer of this year.

This area of Northern Ontario is surrounded by prolific gold mines. GTA’s Ivanhoe mine surrounds the former Joburke mine that produced historic amounts, and GTA is finding gold everywhere they drill. They raised enough money through their good news in the past, and could be producing at Northshore within the year. The deposits, the timeline and the money in the bank makes it look like their news will make them even more money from investors, and keep their timelines. The coming, updated NI 43-101, should address all of this and make investors very happy. Maybe not 800% happier, but leap years don’t come every year.  For now it looks like GTA is going to be able to do what they plan.


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