West Oak Gold has an option to acquire a 60% interest in the Hedge Hog Property, which is located in central British Columbia 15 kilometres north of the Barkerville gold camp, and 80 kilometres east of the City of Quesnel.
Additional Information:
Company: West Oak Gold Corp.
Stock Symbol: CSE: WO
Date Published: Aug 18, 2021
Transcript:
Available
Video Transcript:
I’m Ebony North for Investmentpitch Media
West Oak Gold Corp. is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “WO”, following its initial public offering.
The company raised gross proceeds of $402,500 from the placement of 4,025,000 shares priced at $0.10 per share.
Research Capital acted as agent for the offering.
The shares are currently bid at $0.11 with no trades to date.
The company has an option to acquire a 60% interest in the Hedge Hog Property, which is located in central British Columbia 15 kilometres north of the Barkerville gold camp, and 80 kilometres east of the City of Quesnel.
The property, which consists of eight contiguous claims, covers an area of 2785 hectares.
According to the company’s Technical Report, the area of the Hedge Hog Project has been worked for placer gold since the time of the Barkerville gold rush in the 1860’s.
In 2013 Eastfield discovered gold mineralization in a shear zone exposed in a road cut at Golden Sky, at the north end of the Hedge Hog property.
A grab sample taken by Eastfield from the 25 metre wide zone returned 1.51 g/t gold, 0.48% lead, 1203 ppm arsenic and 1313 ppm antimony.
A limited soil grid was emplaced, and minor prospecting was conducted in 2014, but no significant work has been carried out since then.
West Oak has begun field work with a Phase 1 work programme designed to explore for structurally hosted gold at the Golden Sky target.
Soil sampling is now underway at Golden Sky to expand the current soils grid.
This will be followed by mechanical trenching to better expose the known mineralization, search for extensions along strike as well as testing anomalous soil locations.
To earn its interest, the company must spend a total of $1,750,000 in exploration expenditures on the property and make payments, of cash and shares, to a total of $377,500, to Eastfield Resources, within a four year period.
For more information, please contact Paul John, CEO, at 778-874-6619 or by email at paul.j48@telus.net.
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I’m Ebony North for Investmentpitch Media
