March 10, 2020 – Vancouver, British Columbia
Goldrea Resources Corp. (CSE:GOR, Frankfurt:GOJ, OTC,US:GORAF) is pleased to announce that it has closed the acquisition of a 100% interest in a gold prospect near Dixie Lake, Ontario. Goldrea has made a cash consideration to the vendor, plus the cost of staking.
The mineral property, known as Dixie Lake Baby project, consists of 17 map-designated claim cells, covering 285 hectares in total in three non-contiguous groups (the “Property”). The claims are located
south of the BTU Metals Corp.’s Dixie Halo project near their TNT target, and one of the Property’s cell groups is adjacent to the mineral claims held by Goldon Resources Ltd.
The Property is situated in the vicinity of gold projects currently experiencing significant activity. Great Bear Resources Ltd.’s property, located north of the Dixie Halo project, has undergone a 200,000-metre drilling program recently and identified six targets. Goldon Resources has just closed a $1.5 million financing and BTU Metals Corp. has announced a $1.6 million financing.
President Jim Elbert stated, “This land package adjacent to BTU Metals and in proximity to Great Bear Resources’ Dixie Lake gold discovery is an excellent opportunity for Goldrea. Gold discoveries of the magnitude of Great Bear, identified for 18 kilometres, while not necessarily indicative of mineralization on Goldrea’s property, gives us reason to believe that the geology can extend significantly, as has been shown by BTU and Goldon in the Dixie Lake Basin.”
For more information, please contact:
James Elbert, President and CEO
Telephone: (604) 559-7230