Overview
Our company's SaskGold Project represents a large district-scale exploration platform for gold (and base metal) potential and is situated in a core area for active gold exploration in Saskatchewan, Canada. The project area currently consists of two sub-areas that have combined exploration licenses covering approx. 83,832 ha (approx. 207,064 acres).
The SaskGold Project is 100% owned by Red Lake Gold Inc., including on a royalty-free basis (save Crown duties) and as further discussed below, our gold exploration focus at the SaskGold Project is on diorite-quartz diorite targets, which are emerging as potentially significant exploration settings in this region.
Jurisdiction & Infrastructure
Jurisdiction is an important aspect for the exploration industry. Saskatchewan, where our SaskGold Project is located, has ranked as the 3rd most attractive jurisdiction for mining investment in the entire world (according to the Fraser Institute). On top of the jurisdictional attractiveness of Saskatchewan, we view our SaskGold Project to be materially underexplored, especially relative to other gold-endowed regions in Canada. The SaskGold Project also hosts important infrastructure, which factors into our positive assessment of its long-term exploration worthiness, including a power line that crosses our project licenses to the west of Kenwood Lake.
SaskGold Project - Core Area Highlight
Overview
The SaskGold Project is located in the Kisseynew Domain, being situated in-between the Rottenstone Domain and the La Ronge Domain, and we believe this supports our view of a favourable setting for gold (and base metal) exploration.
SaskGold Project – Claim Map of Core Area
The core disposition block consists of 14 mineral dispositions covering an area of approximately 78,076 ha (approximately 192,848 acres), with this key area of our project being in good standing with Crown authorities into the second half of 2027.
Geology
Geologically, the SaskGold Project's area shown above includes coverage of metasediments and metavolcanics that form part of the Reef Lake Complex. In area around Reef Lake, this mixed succession of sediments and volcanics have been intruded by a series of diabase dykes and by a series of bodies which range in composition from diorite to granodiorite. Historic gold and nickel mineralization has been noted within the general Reef Lake area, including at historic exploration areas covered by the SaskGold Project (see, as example, SMDI #0964b).
SaskGold Project - Priority Area Geology Map
(Source: Saskatchewan GeoATLAS)
Of additional potential priority, a diorite-quartz diorite-(granodiorite) structure of Rottenstone Domain-affiliation is materially covered by the SaskGold Project. The absence of historic industry assessment as to the potential gold prospectivity of diorite-quartz diorite intrusions in Saskatchewan has recently evolved subsequent to the Ramp Metals Inc. discovery intercept of 73.55 g/t Au over 7.5m found in a coarse grained quartz diorite in 2024, (see also more recently Ramp Metals Inc. news release, Ramp Metals Discovers New Mineralized Target Northwest of Ranger Gold Discovery, dated December 2, 2024).
In our view, this area of our SaskGold Project may represent a high-priority gold exploration setting, including as may relate to diorite-quartz diorite intrusions.
Leland Lake Target Area
Overview
The SaskGold Project also contains the Leland Lake target, hosted within an independently situated mining disposition located with regional proximity to the producing Seabee gold mine and which rests contiguous to disposition area held by SGO Mining Inc. (operator of the Seabee mine that is located approximately 20km to the northeast of our Leland Lake target area). The disposition covers approximately 5,756 ha and also has good standing date with Crown authorities into the second half of 2027.
SaskGold Project - Leland Lake Target Area
Historic Exploration
The Leland Lake target area covers the Leland Lake body, a quartz diorite/diorite structure with past historic exploration by Cogema Canada Limited that identified the North Axe Lake gold showing, having sample gold anomalism reaching 480 ppb Au.
The North Axe Lake gold showing is located approximately 20.4 km southwest of the Seabee gold mine. The showing area, as mapped by G. Delaney, is underlain by the Leland Lake diorite - a medium- to coarse-grained, pink to grey-pink, massive, leucocratic quartz diorite. The showing consists of auriferous oxidized grey quartz veins and lenses associated with aplite dykes that are hosted within east-southeast trending shear zones that cut the Leland Lake quartz diorite (see SMDI #2389).
Geology
Importantly, in our examinations, the Leland Lake quartz diorite - though having favourable gold anomalism - has received no material investigation of its quartz diorite gold hosting potential. The lack of consideration of the quartz diorite reflects, in our company's view, the absence of historic industry understanding around the potential gold prospectivity of quartz diorite intrusions in Saskatchewan (which has evolved subsequent to the Ramp Metals Inc. 2024 discovery intercept of 73.55 g/t Au over 7.5m found in a coarse grained quartz diorite, see also Ramp Metals Inc. news release, Ramp Metals Discovers New Mineralized Target Northwest of Ranger Gold Discovery, dated December 2, 2024).
A historic traverse of the Leland-Axe Lakes area in 1988 by Cogema Canada Limited took only 3 soil samples across 160 km traversed (see Assessment Report 73P09-0013), highlighting an underexplored opportunity over a near-mine quartz-diorite intrusion.
SaskGold Project - Leland Lake Target Area Geology Highlight Map
(Source: Saskatchewan GeoATLAS)
Recent exploration results within quartz diorite structures in Saskatchewan (such as the favourable results obtained by Ramp Metals Inc. in 2024) suggest to our company that the Leland Lake quartz diorite body - using today's evolving knowledge, awareness and technologies - may represent a high priority target given:
- Its mapped geology
- The presence of gold anomalism
- A lack of detailed historic examination of the quartz diorite itself in favour of traditional vein-type models
- Regional proximity to the producing Seabee gold mine.
For associated Qualified Person technical information please click here.
Red Lake Gold Inc. cautions that results and/or discoveries on other regional and/or adjacent projects are not necessarily indicative of the results that may be achieved on projects and/or project interests that may be held and/or operated by Red Lake Gold Inc., including, without limitation, the SaskGold Project.