Ring of fire - winston resources inc


Winston Resources Inc, is a Toronto based mineral company primarily focused on developing its 100% owned Elmtree Gold Project in New Brunswick, Canada, as well as the acquisition and development of other Canadian natural resource properties. Winston also owns an investment portfolio of affiliated CNSX stocks, primarily Hadley Mining Inc (CNSX: HM) and Zara Resources Inc (CNSX: ZRI).

Winston’s subsidiary CNRP Mining Inc, acquired the Elmtree Gold Project in June 2012 for approximately $7,700,000. Elmtree has an indicated and inferred gold resource of 294,000 ounces, and the management of Winston seeks to expand the resource with additional drilling and subsequently to complete an open pit mine development feasibility study.

Winston commissioned an updated NI43-101 undertaken by Micon International, well known for their conservative approach to technical reports, which increased the resource at Elmtree by 33%. It is now seeking to raise a $1,000,000 private placement to proceed with Phase 1 of a drilling campaign which is intended to define the size of the resources prior to a pre feasability analysis for an open pit mine.