A recently completed trenching and sampling program on Equisure Financial Network’s (TSE) Godfrey-Turnbull Twp. gold property near Timmins, Ont., has yielded encouraging results.
A total of 300 ft. of trenching revealed gold mineralization in quartz veins in sheared and iron carbonate altered metavolcanic rocks. Grab samples from the trenches yielded gold values ranging from 0.1 oz. to 8.0 oz. gold per ton.
Equisure, a financial service company that amalgamated with Manridge Explorations (TSE) in August, 1992, holds the property under option until Dec. 31. At year-end, the company plans to transfer the property to a newly incorporated subsidiary that will specialize in mining ventures. To acquire full title to the property, the newly formed subsidiary will pay the original stakers $50,000 and issue them 25% of the shares of the new company.
The new company will also ensure that additional exploration and development work is carried out on the property over a 2-year period.
The company hopes to carry out further surface prospecting and diamond drilling on the property.
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