The Hard Cash Property is a located in the Ennadai Greenstone Belt in SW Nunavut on the shores of Ennadai Lake. The property is 310 km NE or Stony Rapids, Saskatchewan or 700 km ESE of Yellowknife, N.W.T and is accessible by float plane or helicopter. The property covers 5 NUMIN gold occurrences. Most work to date has focused on the Swamp Trend where high grade Archean lode gold mineralization occurs in float and bedrock over a distance of 1.1 kilometres with samples of quartz-galena-chalcopyrite-pyrite have returned assays up to 178 g/t Au. The Swamp Showing at the northeast end of the trend consists of quartz-sulphide veins returning grab samples up to 36 g/t Au in quartz-sericite schist within a 60 to 100 m wide shear zone.
In 2016, the Pond Showing was discovered 3.4 km to the southwest of the in-place veins along the same trend and returned grab samples up to 11.45 g/t Au. Surveys by Phelps Dodge in the 1990’s identified coincident IP resistivity lows and chargeability highs in the immediate area of the in-place veins at the north end of the Swamp Showing.
Pond Showing mineralization (11 g/t Au)
Ground total magnetic field (TMF) and horizontal loop electromagnetic (HLEM) surveys over the combined boulder train and bedrock showings indicate that the Swamp Showing mineralization follows the south flank of an HLEM conductor, along the sharp north flank of a TMF high. With these controls on mineralization identified, the target is ready for drill testing.
Canagold Resources optioned the Hard Cash Property in 2018, conducted surface exploration in 2019 and conducted RC drilling on the property in 2020. They drilled 1,020 m in 7 holes. Three holes targeting the Swamp Zone returned gold with best results of 7.62 m @ 1.435 g/t Au. Holes into the ends of the Dryland Zone returned up to 3.05 m @ 2.689 g/t Au.