Gold X2 completes acquisition of gold projects near Atikokan/Fort Frances

There is a new owner of two gold projects in northwestern Ontario.

B.C. based Gold X2 Mining acquires projects located east of Atikokan and north of Fort Frances as part of an acquisition of Kesselrun Resources out of Thunder Bay.

Gold X2 says final approval was granted from shareholders and the courts.

Key to the agreement is Kesselrun’s Huronian Gold Project, which borders the west edge of Gold X2’s Moss Gold Project.

Chief Executive Officer Michael Henrichsen says they intend to begin exploring the newly acquired property in the new year.

“With this acquisition, Gold X2 is strategically positioned to unlock the full potential of the Moss Gold Project, providing further exploration and discovery upside along with significant flexibility for mine development infrastructure,” states Henrichsen in a release.

The company has already invested over $75 million on exploration activities at Moss Gold and estimates the area to contain over 6 million ounces of gold.

Gold X2 also takes on the Bluffpoint Gold Project, located 50 km northeast of New Gold’s Rainy River Mine.

The area includes the former Straw Lake Mine, which was the subject of a 2014 reality television program.