Helio Resources Inc
Winshear Gold Corp (TSX-V: WINS), formerly Helio Resource Corp. is a small gold miner based in Canada focused on its highly prospective gold project in the Gaban Gold region located in the Puno Orogenic Gold Belt in southeastern Peru.
In September 2019, Winshear completed the acquisition of Gaban Gold and Tinka I.O.C.G. Projects in Peru from Palamina Corp. (TSX-V: PA). The Gaban Gold Project is located in the Puno orogenic gold belt in southeastern Peru, 750 kilometers east-southeast of Lima. The Gaban region is one potential rock source of placer gold that is mined in drains in Gaban and also in the giant Madre de Dios placer gold fields 40 kilometers north of Gaban. During field campaigns in 2019 and 2020, Winshear identified a golden anomaly measuring approximately 2,000 x 900 metres. Winshear intends to drill the first-ever holes in Gaban in 2021, and to that end, the process of permitting drilling has begun.
Winshear is also pursuing its rights to the SMP Gold project in Tanzania. The company has been active in Tanzania since 2006, exploring and developing the SMP Gold project. In 2017, the Tanzanian government changed the mining law as the designation of the retention license, under which the SMP project was held, was revoked. In December 2019, the Tanzanian government issued a Tender Notice whereby new investors can bid for projects that were under a holding license. Winshear provided a required 180-day notice of intent to submit a claim to arbitration under the Canada-Tanzania Agreement for the Promotion and Mutual Protection of Investments and submitted to arbitration in July 2020. Since then, it has retained legal representation and obtained full, non-recourse funding for the arbitration process, which is still ongoing.