Website auf DeutschBreaking News! -- Canada Gold Options Up To a 75% Interest in the 155km2 Northern Arm Gold Property, Ontario, From Entourage Metals Inc. -- The Option Includes a Right of First Refusal to Purchase The Remaining 25% Interest at a Later Date
Canada Gold is pleased to announce it has signed a binding Letter of Intent providing the Company an Option to acquire up to a 75% interest in the 155km2 (square kilometer) Northern Arm Gold Property (the "Property") from Entourage Metals Inc. (tsx.v: EMT) ("Entourage"). The Northern Arm Property is located within the Hemlo Greenstone Belt in north central Ontario, approximately 10 kilometers north of Barrick Gold Corporation's Hemlo deposit. The original Hemlo deposit was discovered in 1981 and the Hemlo Mines have since produced more than 20 million ounces of gold while 250,000 ounces of gold are currently being produced per annum. Strong potential exists for additional discoveries in the Hemlo region, though limited exploration has occurred in the area despite having very similar geology to the Hemlo Mines deposits. The Northern Arm Property straddles approximately 90% of a 40 kilometer long, gold prospective geological trend that has yet to be systematically explored. Entourage Metals has recently consolidated the Property area for the first time as it was previously staked and owned by various smaller entities and groups...
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