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gta resources and mining inc (GTA) Details

GTA Resources and Mining Inc., a development stage company, is engaged in the acquisition and exploration of mineral properties in Canada. The company primarily explores for gold ores. Its flagship project includes the Northshore Project consisting of 2 unpatented and 5 patented mineral claims covering an area of approximately 322.26 hectares located in the Township of Priske, Ontario. The company was formerly known as GTA CorpFin Capital Inc. and changed its name to GTA Resources and Mining Inc. in June 2010. GTA Resources and Mining Inc. was incorporated in 2006 and is based in Burlington, Canada.

Founded in 2006

gta resources and mining inc (GTA) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$147.5K
Chief Financial Officer, Treasurer, Secretary...
Total Annual Compensation: C$107.5K
Executive Vice President of Corporate Develop...
Total Annual Compensation: C$107.5K
Vice President of Exploration, Director and M...
Total Annual Compensation: C$168.0K
Compensation as of Fiscal Year 2014.

gta resources and mining inc (GTA) Key Developments

GTA Resources and Mining Inc. Provides an Update on its Exploration Activities on the Ivanhoe Property, Near Foleyet, Ontario

GTA Resources and Mining Inc. provided an update on its exploration activities on the Ivanhoe Property, near Foleyet, Ontario. The Ivanhoe Property consists of 829 claim units (132.58 km) covering a portion of the western extension of the Porcupine Destor Fault Zone (PDFZ) and the northeast extension of the Borden Lake Gold Trend. The property is transected by Hwy 101, located approximately 90 km west of Timmins. Since acquiring the property in 2014, GTA has identified a number of gold targets associated with strongly altered and mineralized rocks proximal to the interpreted extension of the PDFZ. Sampling from the recent field program totaled 83 rock samples and 47 soil samples from various targets. Outcrop was limited, except for the Montana grid which was mapped and sampled in some detail. Values from the rock samples ranged from less than 5ppb to 1.13 g/t gold. Positive results highlight two of these targets as follows: Montana High Resistivity Zone - Values of 1.13 g/t and 0.75 g/t gold were obtained from grab samples collected from an altered volcanic/tuffaceous rock unit situated proximal to a contact with a feldspar porphyry unit. The mineralization is located near the western end of a 500 meter long high resistivity zone. Previous sampling in the area by GTA resulted in values of up to 4.81 g/t gold. BP Porphyry Zone - Prospecting in this area discovered additional quartz float which assayed up to 1.13 g/t gold. This sample is located 180 meters northeast of a previously sampled float which assayed 18.1 g/t gold. Additionally, soil sampling in an area of approximately 200m by 500 m showed encouraging results with 7 of a total of 15 soil samples returning anomalous gold values (from 7 to 102 ppb). Gold values from the soil samples varied from less than 5 to 102 ppb.

GTA Resources and Mining Inc. Provides Exploration Update, Increases Land Package at Ivanhoe and Plans Further Work

GTA Resources and Mining Inc. provided an update on the Ivanhoe Property including results from recent field work, staking of additional claims and the exercise of year two of the Ivanhoe option agreement. This update also provides details of near-term plans for both Ivanhoe and the Northshore Property near Hemlo. The Ivanhoe Property is located near Foleyet, Ontario between the recently discovered Borden Lake Gold Deposit and the prolific Timmins Gold Camp. The Borden Lake deposit, discovered by Probe Mines Limited, was recently acquired by Goldcorp Inc. as part of a deal valued at $526 million. Prior to the take-over in January, 2015, Probe had defined underground indicated resources of 1.6 million ounces of gold (9.3Mt @ 5.39g/t) and inferred resources of 0.4 million ounces of gold (3Mt @ 4.37g/t) at a 2.5g/t gold cut-off grade. GTA's western claim boundary is within five kilometers of Probe Mines' "northeast extension" claims, along the interpreted Borden Lake gold trend. Geologically, the Ivanhoe Property is located in the western portion of the Swayze Greenstone belt, proximal to the Kapuskasing High metamorphic terrain. It is underlain by rocks typical of the Timmins gold camp, and includes variably altered and deformed mafic and ultramafic volcanic rocks, intermixed with Timiskaming-type conglomerates and porphyry intrusives. GTA interprets the western extension of the Destor Porcupine Fault Zone to extend across the northern part of the Ivanhoe Property. Previous production in the area includes the historic Joburke Gold Mine which is surrounded by the GTA claim holdings. According to the Ontario Ministry of Northern Development and Mines, the Joburke Mine produced close to 500,000 tons at a recovered grade of 3.4 g/t gold. As a result of these exploration successes at Ivanhoe, GTA has, as of May 5th, 2015, entered into year 2 of the Ivanhoe Option Agreement. Pursuant to the agreement, GTA can earn a 100% interest in Ivanhoe by making staged cash payments totaling $260,000 over 5 years, share issuances of 1,000,000 shares over 5 years, and incurring minimum exploration expenditures of $260,000 over two years. To date GTA has paid the optionors a total of $107,000 and 400,000 GTA shares. GTA also increased the Ivanhoe land package by roughly 40%. Originally, the size of the Ivanhoe Property covered approximately 94 sq. km. GTA acquired 4 claims (47 units) in the central portion of the property in June, 2014, and an additional 13 claims (191 units) to the southwest in March, 2015. As a result, Ivanhoe now consists of 829 claims units covering an area of 132.58 km. The latest claim addition covers an area interpreted by GTA to be the northeast extension of the Borden Lake gold trend.

GTA Resources and Mining Inc. Identifies New Gold Targets on its Ivanhoe Property

GTA Resources and Mining Inc. announced the results of exploration activities completed on its Ivanhoe Property near the town of Foleyet in northern Ontario. Recently completed activities include prospecting, sampling, geological mapping and re-sampling of available historical drill core. This work has led to the identification of four gold zones which are scheduled for additional follow-up. The targets include a new gold discovery which returned a number of anomalous gold values up to 4.81 g/t. Also, a broad zone of porphyry style mineralization was identified from re- examination of historical drill core, and from GTA's recent prospecting which discovered angular float assaying up to 18.1 g/t gold. The values described herein are from selective grab samples which were collected by GTA from the various target areas and ranged from <0.001 g/t to 18.1 g/t gold. The 102 sq. km. Ivanhoe Property is located between Probe Mines Limited's new gold discovery at Borden Lake and the prolific Timmins Gold Camp. Geologically, the Ivanhoe Property is located in the western portion of the Swayze Greenstone belt, proximal to the Kapuskasing High metamorphic terrain. It is underlain by rocks typical of the Timmins gold camp, and includes variably altered and deformed mafic and ultramafic volcanic rocks, intermixed with Timiskaming-type conglomerates and porphyry intrusives. GTA interprets the western extension of the Destor Porcupine Fault Zone to extend across the Ivanhoe Property. The north part of the Property is underlain by the Slate Rock Deformation Zone and associated porphyries. Based on recent exploration activities, GTA has identified four separate areas of gold mineralization, all of which are situated within favorable geological and structural environments. These four zones include: Montana Zone: A new discovery characterized by strongly altered, pyritic porphyry and volcanic rocks with gold values from grab samples up to 4.81 g/t. The mineralization is located within a broad deformation - alteration zone, on the west side of Slate Rock Lake. Other grab samples collected from this zone returned anomalous values ranging from 0.2 to 3.64 g/t gold. BP Porphyry Zone: This zone consists of a broad area of anomalous gold mineralization initially discovered by BP Resources in 1986. BP drilled one hole into a weak Induced Polarization anomaly and intersected intermittent porphyry over 150 meters; however, there was no follow-up. The BP drill hole returned anomalous gold throughout the porphyry including 0.90 g/t over 3.41 m. Recent prospecting by GTA discovered a 1.0 meter by 0.8 meter angular quartz float which returned a grade of 18.1 g/t gold. UTAH ZONE: The Utah Zone was discovered in 1986 by Utah Mines while testing an IP chargeability anomaly. A total of nine holes were drilled into a 20 metre wide alteration - deformation zone with historical drill hole values of up to 6.9 g/t gold over 1.82m. GTA interprets that the nine historical drill holes intersected the zone which was traced by Utah Mines over a 500 meter strike length and to a maximum depth of 100 metres. Tressle Target: GTA identified this target area while reviewing historical data which included the location of mineralized float assaying up to 2.17 g/t gold, reported in an Ontario government geological survey carried out in 1951. The targeted zone is overburden-covered and located along the south contact of a strongly altered section of the Slate Rock Deformation Zone, and is on strike with the Utah Zone. Localized angular float in the area returned values up to 0.33 g/t gold from GTA sampling.


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