Location and Description of the Project
Pistol Bay Gold Project is a high grade exploration project located in Nunavut Territory, northern Canada, on the west coast of Hudson Bay.
The Pistol Bay property consists of 860 square kilometers of mineral rights within the underexplored Rankin-Ennadai greenstone belt. An operating mine at Meadowbank and a development project at Meliadine of Canadian gold producer Agnico Eagle Mines Ltd. are located in the same belt as Pistol Bay.
The Project is located within Arctic Canada. It is accessible by air or by sea with about 5 months navigation period from southern Canada. There is a village, port and airstrip within ten kilometres of the property and an all season road in the eastern part of the project provides access to the Pistol Bay camp and to most of the known gold occurrences.
Nordgold throught its Canadian subsidary Northquest Ltd is the 100% owner of the Pistol Bay Project.
The 2018 field campaign was conducted in Q3 2018 and focused on detailed mapping, ground geophysical and geochemical surveys to identify and prepare high potential drill targets for 2019.
In 2019, a follow-up infill drill programme is planned, focusing on testing conceptual underground potential, while upgrading data density of the existing open pit resources to facilitate an upgrade in resource classification.
Total (Measured+Indicated+Inferred) Resources of 742 koz of gold at 2.94 g/t were estimated for the Pistol Bay deposit as at 31 December 2017 (Mineral Resources estimated within pit shell that is defined by an US$1,500/oz price (US$1,550/oz in 2016) and Au CoG of 1.25 g/t.).
Toronto Office Contact Details
Suite 301 - 82 Richmond Street East, Toronto, Ontario Canada M5C 1P1
Tel. 416 306 0954