TORONTO, ON / ACCESSWIRE / January 17, 2023 / Big Tree Carbon Inc. (the "Company" or "Big Tree") (TSXV:BIGT) is pleased to announce that Ian Brodie-Brown, Director of Business Development, will speak on the panel for "Decarbonizing Mine Operations" at the 2nd Energy Transition Summit in Toronto on Thursday January 19th. Mr. Brodie-Brown will join representatives from Glencore, Agnico Eagle, Kinross, and the OECD's Nuclear Energy Agency to discuss decarbonizing mining operations through renewable energy perspectives and the financing and investments needed for creating green infrastructure.
Big Tree is the first publicly traded company to integrate a Natural Asset Resource development approach with its traditional mineral resource projects. Taking the view that Natural Resources have become more valuable alive, as filters of industry, cleaners of industrial airborne pollutants, producers of oxygen and home to the millions of other species that share the planet, Big Tree has introduced a Natural Asset Stewardship approach - developing forest carbon offset projects for the offset needs of the mining and other industrial emitters, and developing a biodiversity asset strategy to protect future requirements to mitigate global biodiversity loss.
NATURAL ASSET RESOURCES:
Big Tree's Natural Asset Resource projects include the Lac Seul Project and the Agoke Forest Project in Northwestern Ontario's Great Boreal Forest.
Lac Seul Project
Lac Seul (carbon credits) at 22,063 hectares (54,517 acres) on the Lac Seul First Nation reserve lands, with a first right of refusal on the larger 800,000 hectare (1,976,800 acres) Lac Seul Forest license area (See Press Release dated November 30, 2022).
Agoke Forest Project
Big Tree has partnered with Agoke Development LP ("ADLP") to bring upwards of 974,000 hectares of potential carbon offsetting to market in a larger 1,028,496 hectare forest (the "Ogoki Forest"). Agoke Development Corp. ("ADC") is the general partner of the limited partnership also comprising Aroland First Nation, Eabametoong First Nation, and Marten Falls First Nation within whose traditional territories the Ogoki Forest is located. Pursuant to the terms of the Emissions Reduction Benefits Management Agreement ("ERBMA"), Big Tree will assist ADLP in designing and financing the project.
MINERAL ASSETS:
Big Tree's Mineral Assets are represented by a strong portfolio of gold prospects in the Red Lake and Birch-Uchi greenstone belts in the Red Lake Mining District of Northern Ontario, Canada.
Ranger Lake Gold Property
The Ranger Lake Property consists of 236 mineral claims totalling 4,790 hectares, held 100% with no royalty. Situated in the Ranger and Otter Lake mining townships, partly within the Municipality of Red Lake, the project is located 10 kilometres east of the Campbell/Red Lake mine complex. Having completed an initial 8 holes in 2021, the Company continues to interpret information gathered from this first drill program, including SGH soil sampling surveys completed on further targets, and completion of a drone-supported magnetometry survey. The Company is permitted for drilling activities on the property through March 2024.
Richardson Lake Gold Property
The Richardson Lake Property consists of 175 mineral claims totalling 3,276 hectares, held 100% with no royalty. Located in the Casummit Lake area 8 kilometres from the Springpole gold deposit (One of the largest, undeveloped, open-pit gold deposits in Canada: Reserves of 3.8 million ounces gold at .97 g/t, 20.5 million ounces of silver at 5.2 g/t - Average annual gold production of 335,000 ounces in years 1 through 9 - Positive Economics, +11 year mine life)
The Richardson Lake Property is contiguous to the past-producing Argosy Mine. The Argosy was mined between 1931 and 1952 and produced 101,875 ounces of gold from 276,573 tons of ore at an average grade of 0.37 ounces per ton (12.7 g/t) Au. The Argosy Mine is located at the south end of Richardson Lake. Big Tree completed several exploration programs on the property, including gold discoveries from drilling the north end of Richardson Lake in 2012 and 2014.
Highlights from drill holes RL-12-07 and RL-14-08
RL-12-07 (1): 15 metres of 1.83 grams/tonne Au: Including: 9.0 metres of 2.95 g/t Au 4.0 metres of 6.0 g/t Au 3.0 metres of 7.4 g/t Au 1.0 metres of 11.1 g/t Au | RL-14-08 (2): 18 metres of 1.85 grams/tonne Au: Including: 10.0 metres of 2.93 g/t Au 4.5 metres of 6.0 g/t Au 3.5 metres of 7.57 g/t Au 2.5 metres of 10.4 g/t Au |
(1) See Press Release dated April 12, 2012.
(2) See Press Release dated November 4, 2014.
In 2021, the Company completed an SGH soil sampling program on the western shore of Richardson Lake. In 2022, the Company completed an innovative lake bottom sediment SGH sampling program on the western embayments of Richardson Lake, with results pending.
Western Fold Gold Property
The Company retains an 2% NSR on the Western Fold claim block, optioned to Newrange Gold, contiguous to the Richardson Lake Gold Property, consisting of 110 mineral claims totalling 2,170 hectares. Newrange exercised their option on December 23, 2021. The claims are subject to a 2 km area of influence and a 2% NSR, of which 1% may be acquired for a $1,000,000 cash payment to Big Tree.
Bridget Lake Gold Property
The Company retains a 35% interest in the Bridget Lake property in the Red Lake Mining District. The Bridget Lake property is held 65% by Evolution Gold Mining Operations Ltd. (the "Bridget JV Operator"). Located at the west end of Red Lake, Bridget Lake is a legacy project between Big Tree predecessor AurCrest Gold and Gold Corp Inc.
Trout Lake South Gold Property
The Trout Lake South Property consists of 654 claims totalling 13,280 hectares, held 100% by the Company with no royalty. Situated in the Joyce River, Gerry Lake, and Knott mining townships. The Company completed a limited grassroots prospecting program in 2021.
ABOUT BIG TREE CARBON INC.
Big Tree Carbon Inc. is an indigenous led publicly-traded natural asset development company based in Ontario, Canada. The Company maintains several legacy mineral exploration properties in Northwestern Ontario as active exploration holdings, including the Ranger Lake, Richardson Lake, Trout Lake South and Bridget Lake properties. The Company is currently developing two First Nations forest carbon offset project development partnerships for the Lac Seul First Nation "Lac Seul Community Forest Project" and the Ogoki Forest. Subsidiary corporation Wiigwaasaatig Energy Inc. is a contributor to the Company's sustainable forest optimization approach, focusing on renewable electrical generation and biofuel processing in partnership with proximal indigenous communities.
FOR FURTHER INFORMATION PLEASE CONTACT:
Big Tree Carbon Inc.
Christopher Angeconeb
President and C.E.O.
(807) 737-5353
[email protected]
Ian Brodie-Brown
Director of Business Development
(416) 844-9969
[email protected]
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Big Tree undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Big Tree Carbon Inc.