Explorer Acquires New Mineral Claims, Creating 'District Scale' Gold Project

Cross River Ventures Corp. reported it added a critical structural corridor to its McVicar Gold Project in northwestern Ontario, forming a contiguous district scale property covering 11,946 hectares.

In a news release, Cross River Ventures Corp. (CRVC:CSE; CSRVF:OTC; C6R:FWB) announced "further consolidation of its project holdings in northwestern Ontario through the acquisition of additional mineral claims totaling approximately 883 hectares situated between the company's existing McVicar Lake and Cannon Lake projects, located within the Lang Lake Greenstone Belt of the Uchi Subprovince, NW Ontario, Canada."

Cross River Ventures stated "the newly staked ground creates one large consolidated McVicar property, increasing the overall project footprint to a contiguous, district scale, 11,946 hectares." The company noted that the consolidated McVicar property was formed by combining the firm's Lang Lake Greenstone Belt properties into a "single, highly gold prospective land position, while also streamlining work programs and permitting requirements." The firm pointed out that as its crews staked out the mineral claims it will not have to pay any commissions or finders' fees for the newly added claims.

The company stated that the new mineral claims connect Cannon Lake with the McVicar Altered and North Flexure Zones. According to the company, "This acquisition strengthens the Company's dominant land position within the Archean Lang Lake Greenstone Belt."

The firm stated that its technical team is "completing a district-wide structural interpretation utilizing industry and government data sets and believes that the significant linear geological discontinuities that align gold mineralization at surface represent largely untested shear zones with excellent upside exploration potential." The company indicated that it plans to complete a high-resolution airborne magnetic survey and obtain LiDAR imagery in the spring of 2021 and then plans to initiate "ground truthing" of high priority targets in the summer of 2021.

Cross River's CEO Alex Klenman remarked, "The consolidation of the Lang Lake properties into one large, contiguous McVicar project was a goal we set early on, so we're pleased it's come to fruition...Clearly the upside of a district scale opportunity is evident. Cross River controls all of the important structural elements of the belt and in doing so we've put the company in a unique position to realize all of the potential value within this highly prospective, underexplored district."

The company listed that historical drill results from the Altered and North Flexure Zones at the McVicar Lake project returned grades of 6.46 g/t Au over 10.09 m (including 29.86 g/t over 1.86 m), 5.5 g/t Au over 3.6m and 11.72 g/t Au over 1.52 m, among others.

Cross River explained that "the McVicar Lake claims host the Chellow Vein outcrop, which is a narrow quartz vein that consists of smoky grey to white quartz mineralized with minor pyrite and visible gold." The vein runs for a strike length of around 125 meters, but has been found to be less than 20 cm wide. The company's technical team believes that the Chellow Vein is contained within a far broader 1-2 km wide deformation zone that has not yet been systematically tested.

The company noted that in the early 1990s at McVicar Lake BHP Minerals Canada collected a series of 34 channel samples that were cut in two meter intervals along the length of a trench housing an exposed vein that returned average values of 28.8 g/t Au. Three samples in particular (#1078, #1090 and #1096) yielded very significant results measuring 578.1 g/t Au, 533.5 g/t Au and 412.5 g/t Au, respectively.

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1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
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