Toronto, Ontario--(Newsfile Corp. - March 1, 2021) - Golden Share Resources Corporation (TSXV: GSH) ("Golden Share" or the "Company") is pleased to announce that the Company commences its Sandridge Project ("Sandridge" or "Project") drill program.
The Sandridge Project is 100% owned by Golden Share and is located approximately 150 km east of Thunder Bay, Ontario. The Project is hosted in the interpreted projection of the Winston Lake Greenstone Belt ("WLGB") within the northern part of the Wawa terrane of the Archean-age Superior province. The WLGB hosts three past-producing mines: Zenith, Winston Lake and Pick Lake. Approximately 180,000 tons at 16.6% zinc was mined at the Zenith mine between 1966 and 1970. Past production at the Winston Lake and Pick Lake mines was approximately three million tons at 14.1% zinc and 1.0% copper, and 172,956 tons at 9.9% zinc and 0.7% copper, respectively. Mining operations at Winston Lake and Pick Lake ceased in 1998. All three deposits are classified as bimodal-mafic volcanic-hosted massive sulphide ("VMS")-type. Historical geophysical data suggest that the favourable WLGB stratigraphy hosting the Winston Lake and Pick Lake extends northwest into the Sandridge area, which is approximately 8 km northwest of the former Winston Lake Mine.
The Company has contracted First Nation-owned Niigaani Drilling of Gull Bay, Ontario, to conduct the drill program. Drilling is expected to be completed within two weeks, with assay results to follow.
The Company is pleased to announce the appointment of Mr. Demin (Fleming) Huang and Ms. Caitlin Carpe to the Company's Board of Directors, effective immediately. The Company also appointed Mr. Demin (Fleming) Huang as President of the Company.
Mr. Huang, CPA, CMA, has over 20 years of administration and corporate finance experience in different industries, including mining exploration. Currently, Mr. Huang is the CFO and Vice President of the Company. He is also a director of one public and several private junior mining companies.
Ms. Carpe, B.A.(Hons.), P1, is a Paralegal Licensee of the Law Society of Ontario and is a Legal Assistant. Prior to joining her current firm, Caitlin represented clients before the Human Rights Tribunal of Ontario, Landlord and Tenant Board, Ontario Labour Board, and Ontario Small Claims Court. She has served on the ad Hoc committee for the development of Humber College's 1-year Paralegal Certificate program. Caitlin holds a B.A. with Honours in Political Science and a Graduate Certificate in Paralegal Studies.
The Company announces it has granted incentive stock options to certain consultants and directors to purchase up to an aggregate of 250,000 Common Shares at an exercise price of $0.20 per share, of which 150,000 options are exercisable for 3 years and 100,000 options are exercisable for 5 years.
This news release has been reviewed and approved by Robert S. Middleton, P. Eng., who is acting as Qualified Person for the drilling program under the NI 43-101 requirements.
About Golden Share
Golden Share Resources Corporation is a mineral exploration company focusing on the province of Ontario, Canada, a mineral rich and politically stable jurisdiction.
WARNING: Certain statements or program in this press release may be forward-looking, including those with respect to the timing and content of up-coming work programs, geological interpretations, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks, uncertainties and assumptions. Actual results may differ materially from those currently anticipated in such statements. The Company relies upon litigation protection for forward-looking statements. The reader is warned against undue reliance on these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Qualified Person has been unable to verify the information reported on the third-party adjacent properties and the information is not necessarily indicative of the mineralization on the Project
For more information, please visit www.goldenshare.ca or contact:
Golden Share Resources Corporation
Nick Zeng, President & CEO