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Shares of Dixie Gold (TSXV: DG), formerly Clean Commodities Corp., skyrocketed 80% on Tuesday following the announcement that it had acquired a district-scale exploration project in the developing Dixie Gold District near Red Lake, Ontario.

As a result, Dixie Gold has become one of the largest mineral claim owners in the emerging mining exploration camp with the new project located adjacent to properties owned by both Great Bear Resources and BTU Metals.

The Red Lake gold project held by Dixie Gold represents a district-scale exploration project at approximately 21,258 hectares (52,507 acres) and covers 1,044 mining claims.

“Our new project successfully positions Dixie Gold as a significant participant in one of Canada’s newest exploration camps,” chairman and CEO Ryan Kalt said in the media release. “We are looking forward to commencing gold and VMS exploration work at our new project in the Dixie district during 2020.”

At market close Tuesday, Dixie Gold’s shares had been traded over 3.6 million times. The average daily trading volume is 96, 987. The company has a C$4.6 million market capitalization.