VANCOUVER, BRITISH COLUMBIA–(March 1, 2017) – Taku Gold Corp. (CSE:TAK) (“Taku” or the “Company”) announces that Independence Gold Corp. has terminated the earn-in agreement on Taku’s Rosebute Property (“Rosebute” or the “Property”) located in the White Gold District of Yukon less than one year into the agreement. “We are quite happy to have Rosebute returned to us and look forward to exploring the property in 2017,” commented Zak Dingsdale, President. “The limited work completed in 2016 by Independence in no way reduces the exploration potential of Rosebute,” adds Mark Fekete, Vice- President.
Rosebute is located in the heart of the White Gold camp. This new gold camp has shown a rapid evolution from the initial Golden Saddle discovery in 2009, currently held by Kinross Gold Corp., to the $520 million, all-share acquisition of Kaminak Gold Corp. in May 2016 by Goldcorp Inc. Kaminak’s key asset was the Coffee Gold project located at the south end of the White Gold district approximately 130 kilometres south of Dawson City. Coffee currently has total gold mineral resources (Goldcorp press release – May 12, 2016) of 3.0-million ounces indicated (63.7Mt at 1.45g/t), and 2.2-million ounces inferred (52.4Mt at 1.31g/t).
Agnico-Eagle Mines Ltd. has recently entered the camp with a $14.52-million equity investment in White Gold Corp. (White Gold press release – December 13, 2016). White Gold only just acquired 12,301 claims (249,000 hectares) across 21 properties covering a large portion of the White Gold district from Shawn Ryan; the prospector credited with both the Golden Saddle and Coffee discoveries (White Gold press release – December 22, 2016).
Taku holds a portfolio of five properties covering 1,449 claims (29,813 hectares) in the White Gold district http://bit.ly/2lT31Es. These properties were acquired by Taku in 2010 and have seen integrated exploration work including airborne geophysical surveys, reconnaissance and detailed soil geochemical surveys, focused geophysical surveys, and limited trenching and drilling. Taku holds an enviable database and strong local expertise in the White Gold camp.
The Rosebute property comprises 694 contiguous claims (14,387 hectares) and contains three extensive gold-in-soil zones known as the Nor’west, Hudbay and Southeast zones http://bit.ly/2lSTPQt. The Property is located approximately 58 kilometres south of Dawson City, Yukon and roughly 29 kilometres north of the Golden Saddle deposit owned by Kinross Gold Corporation. It is situated in close proximity to the Northern Access Road currently being built by Goldcorp to access to the multi-million-ounce Coffee gold deposit. A seasonal road provides direct access to the eastern edge of the Property.
In 2017, Taku intends to focus its exploration efforts at the Hudbay and Southeast gold-in-soil anomalies on the Rosebute property. Detailed soil sampling will be completed south and west of the presently defined Hudbay zone, and north and south of the Southeast zone http://bit.ly/2lSS8CK. Reconnaissance ridge and spur soil sampling will also be done in the western third of the property which to date has not seen any exploration work. Drilling may be done depending on the soil results. Taku is currently seeking joint venture or equity financing to fund this work.
Mark Fekete, P.Geo is the designated “qualified person” as defined in Section 1.2 in and for the purposes of National Instrument 43-101 that reviewed and approved the technical content of this release.
About Taku Gold Corp.
Taku Gold Corp. is a mineral resource company focused on the exploration and development of precious metal properties in Canada with a particular emphasis on the White Gold district of Yukon and the Tagish Lake region of Northern British Columbia.
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Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors identified above and in the corporation’s periodic filings with the British Columbia Securities Commission and the U.S. Securities Exchange Commission. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The corporation does not intend to update this information and disclaims any legal liability to the contrary.