Strategic Acquisitions During Economic Downturn:
- Recent acquisition of 3 past producing mines and processing facility
Lexington, Golden Crown & May Mac Mines
- 2 of the 3 operating mines closed due to 2008 economic downturn
- Golden Dawn acquired assets at pennies on the dollar
A Near Term Gold Producer:
- With low capex and improved metal prices new 2017 PEA shows very positive economics to restart mines and mill
- Permits now in place to re-start first of three mines: Lexington Mine and Greenwood Mill
Further Acquisition For Long Term Sustainability:
- Company acquires large land package adjacent to mines (Phoenix property)
- Phoenix property contains +30 past producing mines including the major Phoenix mine which produced 500 million lbs copper and 1 million ozs gold. The mine closed in 1978
- Company plans to utilize new technology and fly deep penetration airborne geophysics to look for possible deep seated feeder systems to the numerous historic mines.
- GOM is now 2nd largest landholder in prolific Greenwood mining camp next to Kinross Gold, the 5th largest gold producer in the world
The Company is planning to commence dewatering of the Lexington mine shortly, after which material extraction from mine will commence and material will be processed at the Greenwood mill.
Golden Crown Mine
The Company has now received a 10,000 meter drill permit for the high grade Golden Crown gold mine and anticipates to commence drilling shortly.
May Mac Mine
The Company is awaiting a permit to extend the No.7 level along the Skomac vein a further 200 meters. Material from the level extension will then be sent to the Greenwood mill for processing.
The Greenwood Processing Plant is now fully permitted to receive material from the Lexington Mine.