East Of Red Lake – Fry-McVean Property For Option
&172 Mining Claim Units (10.8 SQ. MILES) For Option
With 2-Mile- Drill - Ready Target In The Prolific Uchi Belt, NW Onatario
This large claim group has a two-mile long drill target
on an 8.6 km – long dilatational Riedel shear zone that
has never been drilled- with 56 anomalous gold
sample stations, 64 anomalous molybdenum, 90
anomalous iron, 20 anomalous arsenic and 35
anomalous antimony sites- same gold indicators as
over the 22 M oz Hemlo Ontario gold deposit.
Contact: Donald Brown Ph.D. Geologist
Three files are provided to describe this greenfield gold exploration property. The descriptions are
designed for explorationists and geologists. The property is not for direct sale but it is offered as a
work-in option over four years or less for 100% ownership subject to a Net Smelter Returns (NSR)
royalty of 2% to 4% rising with higher gold prices.
The financial commitment proposed is $3.2 million Canadian for diamond drilling over four years for
about 10,000 metres. On signing the Option Agreement the only financial commitment is for year gne at $650 thousand Canadian for drilling. Over four years or less the total expenditure would be directed to about 10,000 m of drill core to test the gold geochemical-geophysical targets that are defined in the target area plus some geophysical work.
Offers will be welcomed from junior exploration companies listed on the TSX Venture Exchange in
Canada. The property has the potential to host a multi-million ounce gold deposit valued at hundreds of million dollars in the mining capital markets.