Ready Set Gold has promising exploration projects in Ontario’s gold-rich regions

• Owns large, advanced gold project in Ontario
• Interests in large claim blocks in the Hemlo mining camp
• Experienced management team with a focus on profitable exits  

What Ready Set Gold does:

Toronto-based Ready Set Gold Corp (CSE:RDY) (OTCPINK:RDYFF) (FRA:0MZ) is a newly-listed, high-grade gold explorer and developer focused on Ontario’s prolific Greenstone belts.

The company owns a 100% interest in the Northshore Gold Property, which is located in the Schreiber-Hemlo Greenstone Belt near Thunder Bay and is considered one of Ontario’s largest undeveloped prospective gold projects.

A National Instrument (NI) 43-101 compliant Mineral Resource Estimate done by GTA Resources on Northshore in 2014 showed 391,000 Indicated gold ounces grading 0.99 grams per tonne (g/t) along with 824,000 Inferred ounces of gold at 0.87 g/t, using a cut-off grade of 0.50 g/t gold. 

Ready Set Gold also has a 100% interest in the Hemlo Eastern Flanks project, two separate claim blocks totaling 4,453 hectares located in Ontario’s prolific Hemlo mining camp. The project is located in similar geology to Barrick Gold Corp’s (TSE:ABX) operating Hemlo Mine seven kilometres (km) to the east, which has produced more than 21 million gold ounces.

And the company also holds an option to acquire a 100% undivided interest in the 1,634 hectare Emmons Peak Project, located 50km to the south of Dryden, Ontario, near Treasury Metals Inc’s (TSE:TML) Goliath and Goldlund advanced gold development projects.

Ready Set Gold is led by CEO Christian Scovenna, an industry veteran with more than 13 years capital market experience, who has held various executive officer positions and board seats with companies such as Pasofino Gold, OremexSilver, OremexGold, PharmaTher, and Revive Therapeutics.  

How is it doing:

In June, Ready Set Gold announced it had successfully negotiated the early repayment of about US$1.3 million in convertible debt owed to the company by Dreamfields Brands Inc, which will be settled in six payments between June and October 2021. 

Ready Set Gold said the funds received will be applied to the exploration of its Ontario gold projects and for working capital purposes.

Meanwhile in May, the company reported it has intersected gold mineralization in all 13 holes of the Phase 1 drill program completed in March on its 100%-owned Northshore Gold Project in northern Ontario. 

Ready Set Gold also noted that it has achieved its primary objectives of the Phase 1 program, which included testing a new geological model to better understand lithological and structural controls on gold mineralization, as well as confirming the grades of mineralization reported by previous owners/operators of the project. 

The company said this confirmation is significant as it can now better predict and project extensions for drill testing moving forward, saying its model forecasts that the zones could run up to 1 kilometre (km) along strike, in both directions, from the already identified areas of gold mineralization and remain unexplored below 250 metres (m) depth.

Earlier in the month, Ready Set Gold revealed the final set of results from Phase 1 drilling at the Northshore project, which included one hole that intersected 80m at 1.1 grams per tonne (g/t) gold and 11.2m at 3.5 g/t, which hosted a higher-grade interval of 5m at 7.3 g/t gold. 

And in March, the company announced that a new compilation and interpretation completed by its geological team at the Hemlo Eastern Flanks North claim in Ontario, has identified a prospective trend that extends from the Hemlo Deposit onto the project area. 

Ready Set Gold added the compilation has also identified that where the trend enters the Hemlo Eastern Flanks North claim, the prospective rock suite appears to be intensely folded and structurally complex, which it said is a favourable setting for the potential of a large-scale gold system.

On the corporate front, the company recently revealed the appointment of securities and corporate finance lawyer Peter Simeon to its board of directors, as well as financial executive Darren Collins to its board and audit committee.

Ready Set Gold began trading on the Canadian Securities Exchange (CSE) on January 12, 2021, with a low share float of 29.8 million shares outstanding (37.1 million fully diluted). 

Inflection points:

• Exploration upside from its pipeline of projects
• Start of Phase 2 drilling at its Northshore gold project
• Northshore resource upgrade following infill drilling on the Afric deposit

What the boss says:

Commenting on the company’s Phase 1 drill results from its Northshore gold project, Ready Set Gold CEO Christian Scovenna said in a statement: “The intersecting of broad intervals of gold mineralization hosting higher-grade structures is showing us that our understanding of Northshore and our new geological model is certainly progressing in the right direction.”

Scovenna added: “What is also greatly exciting for Ready Set Gold, and our shareholders, is that our modelling indicates that the mineralization may be open along strike and at depth. By considering a different model of mineralization than previous operators of the project, we have potentially unlocked the door to a regionally significant deposit.”

Contact Sean at [email protected]

Story by ProactiveInvestors