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TNR currently holds a 100% interest in the Shotgun property which is located 175 kilometres south of Donlin Creek within the Kuskokwim Gold Belt in Southwestern Alaska. This area is emerging as a world-class gold district hosting more than 40 million ounces of aggregated gold resources. The Shotgun property includes a number of prospects, including Shotgun Ridge and nearby Winchester. Donlin is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. The Company believes that there are several key similarities between prospects in the Shotgun area and that of the Donlin Creek gold deposit as well as other intrusion-associated deposits.
Previous work at Shotgun Ridge by NovaGold Resources Inc. has an estimated historical resource of 980,000 ounces grading 0.93 gram per tonne (g/t) at a cut-off of 0.5 g/t (National Instrument 43-101 non-compliant resource).The geology and style of mineralization at Shotgun is very similar to the Dome area of the Donlin deposit.
The focus of TNR's most recent work program was the project's Winchester Zone, with results including 24 meters of 1.9 g/t gold intersected in hole 06-45. Winchester is a recently discovered, intrusion-associated gold prospect, approximately 16 km south of TNR's Shotgun Ridge prospect. Winchester has been explored by TNR since 2003 and has gold geochemical anomalies spanning more than 7 km. Focused exploration identified an area along the ridge with 1.4 km surface trace that has anomalous gold in talus and soils.
A total of seven holes now complete a section through the ridge at Winchester, providing TNR with a significantly clearer picture of the geology, structure and mineralization.
Since 2003, TNR has followed a strategy on the Shotgun Project aimed at identifying a new zone in addition to Shotgun Ridge. All known prospects in the area were systematically examined and focus was drawn to the most promising targets. The success at Winchester is due to the execution of this strategy.
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