Huntington Signs LOI to Purchase the Winora Property – Lingman Lake Mine Extension Target - NW Ontario Cal Everett Announced as Advisor to the Board
Huntington Signs LOI to Purchase the Winora Property – Lingman Lake Mine
Extension Target - NW Ontario
Cal Everett Announced as Advisor to the Board
May 4, 2021, Calgary Alberta, - Huntington Exploration Inc. (TSX.V – HEI) (the “Company” or “Huntington”
announces that it has entered into a letter of intent to purchase 100% of 17 patented mining claims located
in the District of Kenora, Northern Ontario. The Winora property is located 500 m east of the historical
Lingman Lake Gold Mine, developed in the late 1940’s that, for a variety of reasons never reached
commercial production.
Huntington will issue 4.0 million shares and a 2% NSR to the vendor for 100% ownership of the property
subject to the approval of the TSX-Venture Exchange. The transaction is subject to multiple conditions,
including approval of the TSX Venture Exchange, preparation of a definitive agreement, and closing
conditions customary for transactions of this nature.
About the Winora Property
The 17 patented mining claims (both surface and mineral rights) shown on Figure 1 comprising the Winora
property covering an area of 353.5 ha were originally staked in 1945 by Winora Gold Mines. The property
is located 325 km north of Red Lake, Ontario. Access roads and power lines are currently under construction
into the area.
Figure 1: Winora property location map.
There is no documented history of recent exploration on the Winora property over the past 50+ years.
The Lingman Lake gold deposit is located on the adjacent property (to the west) currently held by Signature
Resources (“Signature Resources Ltd.”).
Historic Background of the Lingman Lake Gold Deposit
Three historical reports of estimated resource studies for the Lingman Lake Gold deposit are reported in
the public domain. Although none are compliant with National Instrument 43-101, they do confirm
significant exploration potential. In a November 1948 Report to the shareholders of Lingman Lake Gold
Mines the dimensions and grade of the mineralized structures east of an N-S dividing diabase dike were
reported as follows:
Zone Length (m) Width (m) Grade (g/tonne)
North 427 1.77 35.9
Central 488 1.33 6.62
South 488 2.16 10.29
• Based on underground sampling
A 1989 resource estimate based on historic drilling and underground sampling resulted in an inventory of
1.06 million tonnes grading 6.8 g/t Au at a cut-off grade of 2.73 g/T Au over a minimum 1.5 m width to a
depth of 180 m (the lowest development level is 122 m). This estimate is not compliant with NI 43-101
requirements and is offered as historic reference only.
Compilation of historic drill hole data and geological modeling present in the public domain, indicates that
the North, Central and South mineralized structures of the Lingman Lake gold deposit, are all open on strike
to the east, beyond the existing underground development, as shown by the following drill hole results.
Drill Hole Num. Grade in g/ tonne Intercept in meters
86-23 6.01 12.5
87-16 5.17 11.27
88-39 5.56 9.87
88.14 7.59 5.54
Data reported in Signature Resources – NI 43-101 Technical Report on the Lingman Lake Gold Property dated January 31, 2020.
More recent drilling by Signature Resources confirms the presence of the historical grades in the three gold
bearing zones east of the diabase dike cross cutting the mineralization in the mine, as follows:
Zone Drill Hole Num. Grade in g/ tonne Intercept in meters
North 18-03 6.84 4.00
North 18-05 17.87 8.00
Central A 18-09 6.55 9.00
Central B 18-09 4.21 4.00
South 18-09 12.20 3.00
South 18.10 8.56 14.0
Signature Presentation Spring 2021
Based on this public information, Huntington estimates that the eastern strike extension of the gold
mineralization found and measured in the Lingman Lake underground development and shown in the more
eastern drilling of the Lingman Lake gold deposit are located approximately 500 m to the west of the Winora
property.
The Winora property is surrounded by mining claims held by Signature Resources (TSX-V SUG) who have
been exploring the adjoining claims to the Winora property since 2013 and are currently completing a
10,000 m drilling program (Signature News release April 9, 2021).
Figure 2: Plan map of the Lingman Lake gold zone structures (also see Figure 3) projected onto the Ontario
Department of Mines Geological Map M2511, showing the distance from their eastern-most location
relative to the western Winora claim boundary.
Figure 3: Simplified Vertical Cross Section (section 12400E, looking west) of the 3 main gold-bearing
structures (purple) and showing the relationship to the intrusive Quartz Feldspar Porphyry (orange). Source:
Signature Resources – NI 43-101 Technical Report on the Lingman Lake Gold Property dated January 31,
2020.
Figure 4: 3D model of Lingman Lake Gold Zone - oblique view looking north-northeast (adapted from
Signature Resources).
Bryan Wilson, President and CEO stated, “We are excited to acquire the Winora property, located next to
and expected to host the extension of the Lingman Lake gold mineralization, a significant, partially
developed gold resource in Northwest Ontario. The high-grade Lingman Lake orogenic gold mineralization
is hosted in multiple quartz veins following the contacts of a series of east-west trending quartz feldspar
porphyry dykes which are all open to the east and at depth. The western Winora property boundary is
projected to be approximately 500 m from the easternmost indications of the Lingman Gold Mine
mineralization found in the North, Central, and South Zones as illustrated in the accompanying graphics.
This favorable geology does not stop at the property boundary.”
Huntington announces Cal Everett as Advisor to the Company
Huntington Explorations is also pleased to announce that Mr. Cal Everett, will be advising the company on
matters relating to corporate development.
Mr. Everett is a geologist with more than 14 years of surface and underground exploration experience with
senior mining companies. He moved to the financial sector in 1990, and spent 12 years with BMO Nesbitt
Burns focused on resource equities, and seven years with PI Financial Corp. in senior resource institutional
sales and capital markets. From 2008 to 2015, he was President and Chief Executive Officer of Axemen
Resources Capital. Mr. Everett holds a Bachelor of Science degree in Economic Geology from the University
of New Brunswick.
Current positions held are President and CEO of Liberty Gold Corp. and an advisor to New Found Gold.
ABOUT HUNTINGTON
Huntington is dedicated to the application of good geoscience in an environmentally responsible manner.
We practice the policies and procedures of the E3 Program developed by the Prospectors and Developers
Association of Canada. We are planning our 2021 exploration program on our Quartz Lake Project.
ABOUT THE QUARTZ LAKE PROJECT (Red Lake Gold District, Ontario)
Huntington’s Quartz Lake Project claims previously referred to as the Birch-Uchi Project, cover 11,280
hectares in 6 separate claim blocks in the Birch-Uchi region east of Red Lake. Field work will commence
with a detailed gold in till and geochemical sampling program following on the recent successful application
of the Geological Survey of Canada and Teck protocol, by Prosper Gold on their contiguous Golden Sidewalk
Project property.
The Prosper exploration work has successfully demonstrated the potential of the ‘Red Lake – Dixie’
exploration model to be applicable in this area. Regionally, gold mineralization has been found follow a
formational magnetic signature that parallels the regional Balmer – Narrow Lake Assemblage
(Confederation Group) unconformity. Prosper Gold has announced the recovery of a significant numbers
of pristine (rough and angular) gold grains recovered from systematic till samples and are currently in the
midst of a 10,000 m drill program.
The formational magnetic feature and the projected unconformity highlighted by Prosper trends onto
Huntington’s Key-Hole Claims, where a till sampling program will commence as soon as field conditions
permit.
Bruce Durham, P.Geo, a Qualified Person (“QP”) under NI-43-101, Standards of Disclosure for Mineral
Projects, has reviewed and approved the scientific and technical content in this release. All of the technical
information in the release is historical in nature or originates from third party sources. While the QP has
not been able to verify the veracity of the information disclosed, Mr. Durham is very familiar with the
project area and the work completed on the Lingman Lake project in the mid 1980’s when he managed the
exploration programs on that property. The QP views the information as reliable and pertinent.
ON BEHALF OF THE BOARD OF HUNTINGTON EXPLORATION
“Bryan Wilson”
President & CEO
416-543-9945
Note: Website development is ongoing with expected release in late Q2 2021.
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Huntington and on assumptions Huntington believes are reasonable. These assumptions include, but are not limited to: TSXV acceptance of the Proposed
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factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers
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forward-looking information contained in this news release represents the expectations of Huntington as of the date of this news release and, accordingly,
is subject to change after such date. However, Huntington expressly disclaims any intention or obligation to update or revise a ny forward-looking
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