Big Wind Capital Corp.
CNSX : BWC

June 09, 2016 13:49 ET

Big Wind Captial Purchases Gold Property

KELOWNA, BRITISH COLUMBIA--(Marketwired - June 9, 2016) - Big Wind Capital Corp. (the "Company") (CSE:BWC) is pleased to announce that it has entered into a claim purchase agreement to acquire a 100% interest in a large claim package prospective for gold in the La Ronge Gold Belt and the Flin Flon Greenstone Belt region of northern Saskatchewan (the "Project"). The Project is comprised of 39 mineral claims in 7 project areas with a total land package of 31,731 hectares.

The Company will pay $35,000 in cash and issue 5,000,000 common shares to Mr. Ross McElroy to acquire the Project. Mr. McElroy will be invited to join the board of directors of the Company.

The Company intends to undertake a preliminary exploration program beginning in the summer of 2016 and anticipates a preliminary work program budget of approximately $650,000.

Background Information

Gold deposits in Saskatachewan are found mainly in the Early Proterozoic volcanoplutonic regimes of the La Ronge and Flin Flon domains. Six of the project areas are located within the La Ronge Gold Belt and a 7th project is located in the Flin Flon Greenstone Belt located to the south-east (see Table 1 and Figure 1).

La Ronge Gold Belt Properties

The La Ronge Gold Belt hosts 13 known gold deposits including 5 former producing gold mines. Gold mineralization in the La Ronge Gold Belt is mostly structurally controlled, quartz-vein type and characteristically high-grade, often with average grades >10 g/t Au. Highlights of the 6 properties that are located within the La Ronge Gold Belt are as follows:

  • The Hilda Pond property lies north and contiguous with claims owned by Kristo Gold (private company). The Kristo Gold claims host the past producing Anglo-Rouyn Cu-Zn-Au Mine.
  • The Kidney Lake and McKenzie Lake properties are contiguous to the north and south of a large land package belonging to Golden Band Resources encompassing the past producing Komis & Star Lake deposits, and the EP, Golden Heart, Memorial, Tower East, Kaslo, Birch Crossing, Jojay, Alimak & Decade gold deposits.
  • The McLennan Lake property lies 7km south of the past producing Star Lake Au mine. Access is excellent as the property straddles Highway 102 from La Ronge.
  • The Slaney Lake property is contiguous on the north with a Golden Band land package that hosts the Bingo Gold Deposit (Roy Lloyd Mine).
  • The Miles Lake property is contiguous to the west with a Golden Band land package that encompasses the past producing Contact Lake Gold mine.

Flin Flon Greenstone Belt Property

The Flin Flon Greenstone Belt is located approximately 120km to the south-east of the La Ronge Gold Belt. This mining district has been host to 25 operating mines since 1916. Most of the mines are copper-zinc, although at least 3 mines produced principally gold and silver.

  • The Standing Lake property has several historic copper showings, the most significant being 1.25% Cu over 0.3m from drill core. A belt of Cu-Zn-Au-Ag showings trend north-west from the town of Flin Flon through the property. Access is excellent via provincial highway 106 that cuts the south edge of the claim.

Table 1: Saskatchewan Gold Properties

Geological Area Property Number of
Claims
Project Size
(Ha)
La Ronge Gold Belt Hilda Pond 1 1,992.75
Kidney Lake 7 4,945.38
McKenzie Lake 1 5,955.22
McLennan Lake 6 976.28
Miles Lake 13 13,055.12
Slaney Lake 10 3,533.56
Flin Flon Greenstone Belt Standing Lake 1 1,272.97
Total 39 31,731.27

To view Figure 1: Saskatchewan Gold Properties, please visit the following link: http://media3.marketwire.com/docs/bwc0609fig1.pdf.

ON BEHALF OF THE BOARD

Dev Randhawa, Chairman & CEO

This press release contains "forward-looking information" that is based on Big Wind Capital Corp's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Big Wind's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Big Wind's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward- looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Big Wind Capital Corp.
    Greg Downey
    Investor Relations
    1-866-979-7022