New Player In The Manitoba Gold Rush
May 9, 2008 – 12:48 pmIt has been said that small ripples can make big waves. A new exploration company, EagleRidge Minerals Ltd is making a big splash in the Rice Lake Gold Camp. Several smaller mineral claim staking ripples made in the past, have now merged together to create a wave of sorts that have splashed into the creation of EagleRidge Minerals Ltd (ERM), a new gold digger in Manitoba.
Although a new company, the roots of ERM are based in the history and efforts of Robert Freeman, an independent prospector who had the vision too quietly and carefully research and acquire a large package of mining claims in underexplored and geologically promising areas of the gold belt. Together with Gerald Massey, Freeman founded Central Consolidated Resources Inc. (CCR) which went on to become perhaps the largest “privately held” owner of mining claims in the region.
Freeman from CCR and William Moore of Boathouse Capital Advisory Group were then instrumental in establishing the consolidation of the land package that lead to the creation of Bell Gold Resources Inc. and EagleRidge Resources Ltd. Both of which are junior exploration companies, one focused on precious metals and the other on base metals.
After careful review of the exploration and mineral discovery potential of both companies it was obvious that considerable synergy existed that once acted upon would result in greater rewards with less costs. As a result of this a friendly merger was achieved and led to the creation of Eagle Ridge Minerals Ltd. This merger adds greatly to the overall mineral discovery potential while creating a stronger and more robust management and financial structure than the companies would have had if operating independently.
ERM now owes over 22,000 hectares of mineral exploration lands in southeastern Manitoba, most of which are located in emerging Rice Lake Gold Belt. Having six different groups of mineral claims gives the company a property base on a significant scale. The ERM properties have known occurrences for gold, copper, nickel and other minerals, as reported in historic government assessment files. Many of these properties have not been explored with modern methods or new techniques. Numerous mineral showings on these properties have remained idle for decades without follow up exploration.
Realizing that the best place to find a new discovery is next to an old one, the ERM exploration team is focused on detailed review and exploration of areas were mineral occurrences are known to exist, yet due to past economic conditions and/or past exploration limitations have remained idle. This exploration model, when used elsewhere under similar conditions, has resulted in new mineral discoveries that have paid immense dividends, including the Red Lake area of Ontario. The Red Lake Gold Camp shares almost twin geology with the Rice Lake Belt.
ERM has developed and commenced an exploration plan designed to more fully investigate both historic mineral showings and newly indentified zones on its properties. The ERM exploration activities are fashioned after similar plans that were successfully used in the recent Rice and Red Lake area discoveries made by other gold companies. It incorporates similar methods and exploration modeling.
ERM has begun exploration projects and commissioned geological reviews of its properties. This work has already identified several priority exploration targets that exhibit high potential for increased discovery of mineral resources.
JW Campbell an independent geologist and engineer recently completed a report on the geological features and mineral potential for one group of the company’s mining claims. This report was based on review of historic past work, geology investigations, data review and assessment along with a site visit. The report is written in a 43-101 compliant format and has clearly indentified favorable areas for gold deposits on the property.
ERM holds mineral rights to exploration lands that it is willing to bet have high potential for new gold discoveries. How much, its too early to tell, but the company and joint venture partners have agreed to spending several million dollars on gold exploration in the Rice Lake Gold Camp over the next 4 years, in order to prove a gold deposit of economic scale.
EagleRidge Minerals Ltd.
Investor Relations
William Moore
Suite 204 - 133 Richmond Avenue West
Toronto Ontario
416 - 363 - 9733
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