This is not another story about global warming. The “heat” being generated in Canada’s far north by the gold mining industry is economic heat. As gold mining companies hunt for increasingly elusive projects which offer both robust grades and multi-million ounce potential, more and more of these companies are looking north – as in far north.
One of the companies cashing in on this new, northern gold-rush is Cache Exploration Inc. (TSX: V.CAY, OTCQB: CEXPF, Forum). CAY’s base of operations is Nunavut. The Company’s operational focus is the Kiyuk Lake Gold Project.
Kiyuk Lake is a huge land package, encompassing approximately 491 square kilometers. This is a true “district” play, as management was intent on locking up the majority of the entire Kiyuk Basin, a Proterozoic geological formation. Mineralization has already been identified along a 15 kilometer strike length.
Previous work on the property includes approximately 12,000 meters of drill results, compiled between 2008 and 2013. Those results have consistently yielded broad bands of gold mineralization, with solid grades, including numerous intercepts in excess of 3 g/t Au.
Some mining investors may be leery of mining projects situated this far to the north, concerned that the climate/geography may be a significant impediment to mining operations. What separates Cache Exploration (and Kiyuk Lake) from some of these northern projects is that Kiyuk Lake is amenable to year-round operations.
For the rest of this article: http://www.stockhouse.com/news/newswire/2017/08/01/arctic-heating-up-for-gold-exploration