Goldrea Resources Corp (2) (C:GOR)
Shares Issued 33,327,108
Last Close 4/22/2020 $0.02
Thursday April 23 2020 – News Release
Mr. James Elbert reports
GOLDREA UPDATES DIXIE LAKE BABY PROPERTY, RED LAKE AREA, DIXIE LAKE VICINITY, ONTARIO, CANADA
Goldrea Resources Corp. has provided an update on the Dixie Lake Baby property, located near Red Lake, Ont., Canada, in the Dixie Lake vicinity. The recently acquired, as announced on March 10, 2020, Dixie Lake Baby Property consists of 17 map-designated claim cells totaling 285 hectares. The property is accessible year-round, near a paved highway and a network of well-maintained logging roads.
Within this region, BTU Metals and Great Bear Resources, have announced detailed exploration results. BTU has reported positive exploration from its Dixie Halo Property, as stated in its 4/7/20 press release. On 4/9/20, Great Bear released results on targets from their $21 million drilling program. Goldrea’s Dixie Baby Property lies adjacent to the Dixie Halo Property of BTU, and eight kilometers from the extensive Great Bear discovery belt which stretches over eighteen kilometers. GoldOn Resources, also in proximity, has announced on 4/22/20 it has received exploration permits for its Bruce Lake property to participate in this structurally active area.
Goldrea anticipates a work program, within Ontario COVID-19 Guidelines, on the Dixie Lake Baby Property, which lies adjacent BTU Metals property. This work program is contingent on Goldrea developing adequate financing.
Immediate searching of the Goldrea titles adjacent to BTU Metals has not yielded plotted historic work on the MLAS Ontario system. A continued search of the library information will be conducted to see if un-posted historic data is available within the MLAS Ontario system, or possibly available in corporate files.
Both the Great Bear gold mineralization discoveries on their Dixie Lake Property, and the BTU gold mineralization discoveries on their Dixie Halo Property provide encouragement for Goldrea to pursue aggressive exploration on the Dixie Baby Property. This prospective belt has undergone only limited exploration to date.
The reader is cautioned that the presence of gold mineralization on the adjacent and nearby properties is not indicative of similar mineralization on Goldrea’s Dixie Lake Baby property. To date no discovery has been made on the Goldrea property, and there can be no assurance that any discovery will be made, or if any such discovery is made that any such mineralization may be economically recoverable.
The contents of this press release have been prepared under the supervision and direction of Dr. Stewart A Jackson, a Qualified Person under National Instrument 43-101 Guidelines.
We seek Safe Harbor.
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