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The ultimate gold stock

sub penny gold miner

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#1 tradesurfer

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Posted 29 March 2017 - 11:01 AM

Just a friendly tip here. GLLK is a sub penny gold mining stock.

 

According to their 10Q they are slated to start breaking ground to define their resources this month and drilling and defining expected to be finished by September of this year.

 

GLLK management intends to prove that the Holt property gold system continues onto its claims.

 

http://www.goldlakes.com/

 

It goes without saying the risk associated with sub penny mining stocks, however the return potential is astounding assuming favorable gold market conditions.

 

I remember FMNJ years ago went from .0008 to .15 cents. (18650% return)

 

Also SRSR Sarrissa resources went from .0003 to .08 cents. (26566% return).

 

GLLK is working towards getting a 43-101 which for most gold penny and sub penny stocks is usually unheard of.

 

I think GLLK has a shot at .01 to .05 by September of this year, regardless what the gold price does.

 

 

 

 

 

THE PLAN

 

Under the direction of industry veteran Ed Morrow GLLK’s VP of Mining Exploration, the Company plans to be on the property presently to ascertain the areas and targets to commence its aggressive drilling program.

 

 

 

The Big Monty lies within the prolific Porcupine-Destor Fault Zone “PDFZ” (110 Million ounces of Au produced to date and adjacent to the North and Northwest borders by St. Andrews Goldfield’s Holt Property (SAS: TSXV) which has 2.8 Million Ounces of measured and indicated resources and 1.1 Million Ounces of inferred resources as of December 31, 2013.

 

GLLK management intends to prove that the Holt property gold system continues onto its claims.

 

The 2,846 acre Big Monty was acquired by GLLK in a deal with Flex Mining Ltd. A November 2012 Airborne Survey noted a variety of features characteristic of gold bearing fields within the seven claims making up the property.

 

Initially, the Company plans to do extensive groundwork and rock sampling, once the current geological report is interpreted, Eventually, an NI-43-101 report will be commissioned to delineate the indicated and reserve figures.

 

The Company fully intends to explore financing and JV opportunities with potential partners within the Abitibi Greenstone Belt.

 

Gold Lakes plans to conduct extensive geophysical work and a minimum 2000 metre drill program once financing is secured. The Porcupine-Destor fault system is believed to run generally East-West through the Big Monty property with numerous North East-South West cross faults providing several possible intersecting structural features which could possibly host economic mineralization.

 

The Abitibi Greenstone Belt area is also noteworthy for impressive grades:

 

• Bonterra Resources north of Val D’or Quebec, Gladiator Project in a recent announcement generated a high-grade intersection of 137.4 g/t over 2.5 m with coarse visible gold having been observed in the core.

 

• Oban Mining Corporation in a recent announcement genereated 41.8 g/t Au Over 2.5 Metres at Windfall Lake gold project located in Urban Barry Township, Québec.

 

• The Hislop mine reported 5.2 g/t of gold in ore. Hislop mine located in the prolific Timmins gold mining district, which lies within the Abitibi Greenstone Belt.

 

• Macassa gold operations owned by Kirkland Lake Gold Inc., is part of one of Canada’s oldest and richest systems. The Kirkland Lake Main Break system boasts production of 24 million troy ounces of gold over a span of 86 years and average historic grade of 16.5 g/t.

 

 

 

Area

 

The Abitibi Greenstone Belt

 

 

The Abitibi Greenstone Belt is an established gold mining district (comparable to Nevada’s Carlin trend) having produced over 100 mines and 180 million ounces of gold and more than 50 million ounces from the Cadillac Larder Fault Zone, from operations that include Lake Shore Gold’s Timmins West, the Kirkland Lake Gold complex and Goldcorp’s Porcupine. The Abitibi Greenstone area is also known for robust acquisition and takeover activity. In 2015, Oban Mining (OBM: TSX), with a market cap of north of $60 million, acquired five juniors in the region and has taken out several more to date. Oban is focused on a clear strategy of consolidation in the Abitibi and plans to become an intermediate producer within the near future. Its mandate is to drill test targets rapidly and advance or divest the rest. Oban is well financed with approximately $73 million in cash, cash equivalents and marketable securities.

 

Gold Lakes’ properties are located in the center of existing junior mining companies.

 

 

 

Properties

 

The Big Monty

The Big Monty Property consists of 7 claims totaling 2846 acres and is located approximately 70 kilometers north of Kirkland Lake, Ontario, and 68 kilometers east of Timmins, Ontario.

 

The Big Monty lies within the prolific Porcupine-Destor Fault Zone “PDFZ” (110 Million ounces of Au produced to date and adjacent to the North and Northwest borders by St. Andrews Goldfield’s Holt Property (SAS: TSXV) which has 2.8 Million Ounces of measured and indicated resources and 1.1 Million Ounces of inferred resources as of December 31, 2013.

 

Gold Lakes acquired 100% of the Big Monty property from Flex Mining Ltd.

 

A November 2012 Airborne Survey noted a variety of features characteristic of gold bearing fields within the seven claims making up the property.

 

 

The Ponderosa

Gold Lakes has recently acquired 100% interest in 31 claims in the Abitibi Greenstone Belt region. The new acquired land will be known as “The Ponderosa”.

 

The Ponderosa property consists of 329 claim units encompassing over 13,000 acres and is located in the townships of Frecheville, Stoughton and the Mistaken Islands of Ontario, Canada.

 

This new acquisition brings Gold Lakes total land holdings in the area to over 15,000 acres.

 

The company plans to conduct an airborne survey over the Ponderosa claims in the coming months. This airborne survey will tie in with the air borne survey that was previously completed on the Big Monty, to identify specific drill targets.

 

In addition, GLLK management intends to prove that the Holt property gold system continues onto its claims.

 

GLLK management intends to prove that the Holt property gold system continues onto its claims.



#2 dougie

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Posted 29 March 2017 - 12:57 PM

What is it Twain said about mines?

#3 tradesurfer

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Posted 29 March 2017 - 01:53 PM

Yes but who doesn't lie in the investing biz? Huge percentage of management sugar coat a companies prospects , welcome to wallstreet.