Alberta-listed Detector Resources has inked a deal to earn a half interest in Wiscan Resources’ (TSE) Randall Lake gold property in northwestern Ontario.
The 102-claim property is in the Opapimiskan Lake greenstone belt, about 35 miles northwest of Placer Dome’s (TSE) Musselwhite project. It contains a 5.4-mile-long section of the North Caribou River Fault, which is altered and up to 1,000 ft. wide.
Previous work by Wiscan, including shallow drilling, identified several gold zones in banded oxide facies iron formation and in quartz veins and disseminated sulphides within altered sedimentary and volcanic rocks. Drill intercepts include: 0.09 oz. gold per ton over 26.7 ft., 0.083 oz. over 10.6 ft. and 0.25 oz. over 3.3 ft.
To earn its interest, Detector must spend $400,000 on exploration and issue Wiscan 400,000 shares over two years (half of which will be issued upon signing of a formal agreement).
The junior plans to carry out an induced polarization survey this summer, followed by diamond drilling.
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