In late 2020 a prospecting team visited the southwestern part of the Springdale property in north central Newfoundland to evaluate the access to and verify the existence of historically reported trenches at the Burnt Berry, Mistaken Pond and Fallen Tree gold showings.
Firstly, to test for the geophysical signature of a magmatic nickel-copper deposit and secondly to delineate detailed structure and geology which immediately offsets Marathon Gold Corp’s claims to the west.
In February 2021 the Company announced that it had optioned its mineral licences in the Gander Belt of central Newfoundland to Sassy Resources Corporation in return for 2.5 million shares, $400,000 cash and $2.0 million in exploration expenditures over a four year period.
Specifically, these funds will enable Red Moon to carry out a feasibility study on its Great Atlantic Salt Deposit over which Vulcan owns a 3% net production royalty.
, an industrial minerals company that is carrying out a feasibility study on its Great Atlantic Salt deposit in western Newfoundland containing a NI 43-101 compliant resource of 908 million tonnes of rock salt suitable for road de-icing purposes.
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