Confederation Minerals Ltd. ("Confederation") is a company dedicated to the acquisition and development of mineral deposits within North America.
Incorporated in 2005 in British Columbia, Confederation commenced trading on the TSX Venture Exchange (TSX.V) July 15, 2008. The company has a skilled management team with decades of experience in both the mining industry and public financial markets and intends to focus the majority of its efforts on the further exploration and development of its properties.
The Company has entered into an Option Agreement with Redstar Gold Corp. (TSX.V: RGC) to acquire up to 70% of the Newman Todd project in the highly prospective Red Lake Mining District of Northern Ontario. Previous work on the project has defined a gold-bearing structure that can be traced for at least 2.2 kilometers along strike, with extremely significant results returned from recent drilling. The project has excellent potential, as it is wide open along strike and to depth.
We are delighted to have joined with Redstar in the continuing, successful exploration to advance the high-potential Newman Todd gold project in the Red Lake District. Our 2011 drill program was extremely successful, with results showing an incredible continuity of the gold mineralizing system along the entire drilled area. With the recent discovery of high-grade mineralization at surface and to depth of the current drilling, we are confident that the depth extent of the gold-bearing Newman Todd Structure far exceeds 1 kilometer and may continue up to several kilometers in depth, in keeping with the characteristics of other, major mesothermal gold deposits in the Canadian Archaean, such as the famous Red Lake Mine Complex. Confederation management is of the opinion that the results of 2011 drilling at Newman Todd represent a significant gold discovery.
Dr. Lawrence Dick, CEO, Confederation Minerals
In addition, Confederation owns 15.5% of Magna Resources Ltd. (CNSX: MNA), a publicly traded company dedicated to the acquisition and development of potash mineral deposits in the United States and elsewhere.