IN BRIEF — Fibre-Klad acquires gold property

Calgary-based Fibre-Klad Industries (ASE) has acquired 15 claims near Damoti Lake, about 220 km northwest of Yellowknife, N.W.T.

The 11,126-hectare property was acquired through the issuance of 82,477 Fibre-Klad shares and an equal number of “A” and “B” warrants which the vendor can redeem within six and 12 months respectively. The vendor retains a 2% net smelter return royalty, of which 1% can be bought by Fibre-Klad. The claims cover similar lithological units which host the gold deposits being explored by Consolidated Ramrod Gold (TSE), Athabaska Gold Resources (TSE) and Gitennes Exploration (CDN).

Fibre-Klad is planning a fall program on the claims, consisting of airborne and ground geophysical surveys.

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