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Meadow Bay Gold Corp (TSX: MAY) - in Brief
Meadow Bay Capital Corporation (TSX: MAY) (OTCQX: MAYGF) is a mining and exploration company. Its principal asset is the Atlanta Gold Mine, located in Lincoln County in South East Nevada. The Atlanta Gold Mine produced 120,000 oz of gold between 1975 and 1985. Later exploration carried out by Kinross Gold (TSX: K) showed potential for widespread exploration upside to the mineral resource. Meadow Bay Gold is carrying out an extensive drilling and exploration program within the known deposit area, step-out exploration within the lateral extents of the deposit as well as model-driven regional based exploration within the 100% owned property holdings at Atlanta.
Investment Essentials - MAY.TO - Share Highlight
Investment Essentials - MAY.TO - Chart
Meadow Bay Gold Corp (TSX: MAY) - Investment Highlights
- The principle potential asset of Meadow Bay is the Atlanta Gold Mine, which produced 120,000 oz of gold during 1975-85.
- Based on the historical drilling and when gold was at around $300/oz, Kinross Gold had made a resource estimate of approximately 500,000 oz of gold at a high cut-off of 1.8 gpt.
- The company just filed a NI 43-101 report on the Atlanta Mine property and believes that at a lower cut-off, the resource deposit could be as high as 1 million oz to begin with.
- The company can undertake minimal amount of drilling to expand the resource base to over 1 million oz and bring it to the NI 43-101 status in the near future.
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