Busily establishing a presence in northwestern Ontario, Avalon Ventures (AVL-V) has added a new gold property to its portfolio.
The Dubenski property, 60 km southeast of Kenora in the Cameron Lake area, has been drilled by various operators since 1935. It has a resource of 229,000 tonnes grading 8.2 grams gold per tonne, with three mineralized zones covering a strike length of about 300 metres. The property lies in a steeply dipping shear zone about 900 metres long, and one zone has an average width of 7.5 metres.
Avalon’s property deal, with a private company, is a 10-year option with staged payments totalling $1 million. If the property is brought into production, a $5-million fee becomes payable.
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