Lexam VG Gold has projects in the Timmins area of northern Ontario, Canada, the second largest gold producing region in the western hemisphere.
Core projects are four properties with developed gold deposits, located in the heart of Timmins Gold Camp, next to large Goldcorp gold mines: Buffalo Ankerite (100% interest), Fuller (100% interest), Davidson Tisdale (68.5% interest) and Paymaster (60% interest).
The Company has corporate headquarters in the Toronto financial community and exploration and operations management office in Timmins. Lexam VG Gold trades on the Toronto Stock Exchange (TSX:LEX), the Frankfurt Exchange (FWB:VN3A) and in the United States (OTCQX:LEXVF). Formed in 2011 by the merger of Lexam Explorations Inc. and VG Gold Corp., Lexam VG Gold is a company with 27% ownership by Chairman Rob McEwen.
In 2013 Lexam VG Gold updated NI 43-101 compliant mineral resources on the four core Timmins projects, delineating open pit resources from underground resources.
In consideration of the proven potential along strike and at depth of the Timmins gold deposits, the Company's developed properties continue to present significant opportunities to increase the resource base.
Lexam VG Gold completed in 2014 a
preliminary economic assessment on open pit structures of the Timmins projects. Recommendations included
further investigations at the level of project optimization and prefeasibility studies and additional exploration to expand the mineable open pit structures.
In addition to mineral resources adequate to economic extraction by open pit mining, the Company's underground resources add to the economic potential in an area with a long history of profitable production from underground mining. Lexam VG Gold's exploration programs are focused on the expansion of gold mineralization and the increase of the resource base with the objective of identifying economic gold deposits on its projects.
The Company also remains open to Merger and Acquisition opportunities that can add value to its developed asset package.