Projects / Sidace Lake

The Sidace Lake property comprises 63 unpatented contiguous mining claims covering an area of 12,224 Ha, located 25 km northeast of Balmertown, Red Lake Mining Division, Ontario.

The property is owned by Planet as to 40% and Goldcorp Red Lake Gold Mines, an affiliate of Goldcorp Inc. (“Goldcorp”) as to 60% under the terms of a joint venture.

Only 10% of the property has been actively explored with only a fraction drill-tested.

The Sidace Lake property hosts an indicated and inferred resource of 360,000 ounces of gold with an average grade of 3 grams per tonne gold in two of the five successfully drill-tested targets.  This resource does not yet include the new gold discoveries from two recently drilled targets that still remain open to expansion.

To date, 230 diamond drill holes have been completed on the property totalling more than 80,000 metres in drilling.