Massive acquires more claims rom Roman at Lingman Lake

Additional ground has been acquired by Massive Energy in the Lingman Lake area north of Red Lake, Ont. Massive has acquired an option to earn a 50% interest in 17 patented claims held by Roman Corp.

The Roman Corp. claims are adjacent to Massive’s 21-claim Twin Gold property, which was optioned by Massive last year. The Twin Gold property hosts reserves of 1.4 million tons grading 0.26 oz gold per ton. Proven and probable reserves total 798,032 tons grading 0.26 oz, the company reports.

Massive can earn its interest in the new claims by spending $150,000 on the property before Nov 15. An additional $350,000 must be spent by the same date in 1989.

A total of $16.3 million must be spent on the Twin Gold properties in order for Massive to earn a 50% interest. Included is a claim block in the Gods Lake area of northern Manitoba. A previously held option, which gave Massive the right to acquire one million shares and control of Twin Gold Mines at a price of $2.25 per share, has been transferred to Agassiz Resources.

Other exploration is also in progress on properties held near Favourable Lake, Ont., Pickle Lake and the Pangis-Batchawana areas, also in Ontario.