Drills at the Thorne property, west of Timmins, Ont., continue to encounter more mineralization as they progress eastward along strike.
Band-Ore Resources (BNDR-C) has confirmed that hole TH96-60, collared on a line 225 metres east of the discovery holes, cut a 2.2-metre interval grading 20.6 grams gold per tonne (0.6 oz. per ton). Hole TH96-58, drilled from the south on a line 200 metres east of the discovery holes, cut 2 metres grading 20.9 grams gold (0.61 oz.).
Other holes had grades ranging from 3.4 to 9.9 grams gold (0.1-0.29 oz.) over widths of 1.5-9 metres.
In Keefer and Hillary twps., about 15 km southwest of Thorne, Teddy Bear Valley Mines (TBV-T) has taken an option on four patented claims covering the Nixon-Bartleman gold showing, plus another 15 mining claims surrounding the patented land.
Samples from surface trenches in the 1920s and 1930s had gold concentrations ranging from 5.4 to 11.8 grams per tonne (0.16-0.34 oz. per ton) over widths of 1.5-2.7 metres. The property was drilled in 1946, but little work has been done since that time.
The company has agreed to spend $900,000 exploring the property over the next three years, with the vendor retaining a 4% net smelter return and receiving cash and 195,000 shares in Teddy Bear over the 3-year period.
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