UPDATE
Dear Shareholder:
I have just returned from a trip to Yellowknife to make arrangements for the launch of our 2023 exploration season. There will be two parts to our work this summer; these include further detailed geological mapping and sampling and geophysics. Mapping will be led by Dr. Glen Prior PhD, P.Geo of Dahrouge Geological who authored our 2023 report which summarizes and describes all of our holdings included in our Gordon Lake Project. The geophysics will be completed by Aurora Geosciences.
The purpose of our summer work is to do targeting for drilling planned this coming winter with special emphasis on larger tonnage style breccia mineralization zones which are known to exist at Kidney Pond (please see William Knutson’s 1984 summary report of drill results on our website here:
https://www.goldpursuit.ca/_files/ugd/9ec15b_f3a9dd80854f4108a4784931069bd7ee.pdf). The extraordinarily endowed areas of the Lynx and Wooferine zones (grab samples returned gold values of 6190 and 1945 gms/t) The geophysics will consist of I.P and ARRT surveys over these and other zones of interest.
Progress is also being made on other issues that have hindered development at Gordon Lake in spite of the extremely high grade mineralized occurrences on all of our 10 properties. Road access is limited to a winter road open for about 6 weeks. There are plans and funding in place to build an all weather road which will come in close proximity to Gordon lake. Present funding for various impact studies and permits is $30 million from the federal government and $10 million from the NWT.
The other issue is an aboriginal land claim, although not critical for development, has frozen any staking in vast lands which include the property surrounding our present holdings. It appears that a political settlement is close to resolution. We have had meetings with the main claimants and have made very encouraging progress and all indicates a rational settlement can be reached within a reasonable time frame. When one considers that our 100% full ownership with no payments or royalties with the exception of minor 2% NSR (1% optioned) on the May and Vaydik claims.
When one considers that the Gordon Lake District has been actively explored and mined for over 85 years and for the first time all known and advanced properties are now 100% owned by one company. With no 3rd party option payments and all upside unencumbered, the potential can only be described as staggering. Our project is fully permitted for all work on all properties with the described work fully funded and managed by a stellar group of geoscientists.
Best regards
Brian McClay – President
