Glen Auden has exposure to $5m. in gold exploration

With more than 1,700 claims staked in the Casa Berardi area, a large tract of ground striking across the Ontario-Quebec border, Glen Auden Resources expects to be exposed to more than $5 million of exploration this year.

Since staking of the properties, 15 deals have been completed, vice- president Robert S. Middleton tells The Northern Miner. In each case, the optioning company is committed to spending between $500,000- $1,000,000 in order to earn a 50% interest. “That gives Glen Auden $5 million in exploration exposure in Casa Berardi without Glen Auden putting up any cash.” Most of the money was raised on a flow- through basis and must be spent by this spring.

Glen Auden has used LANDSAT satellite data to map crustal lineaments in the area. Prospective areas displaying major structural features have been staked by the company. One such lineament, believed to be a splay off the Casa Berardi fault, bends southward from Quebec into the Hurtibise Twp., Ont., claims held by the company.