A land position immediately west of Timmins, Ont., is being amassed by Band-Ore Resources (CDN), which has taken an option on the Bristol Twp. property of Holmer Gold Mines (ASE).
Under the agreement, Band-Ore will spend $1 million exploring the property over six years to earn a 70% interest. Holmer also receives $150,000 cash and $10,000 per year during the life of the agreement.
The property has a gold deposit with a preliminary resource of 720,000 tons grading 0.11 oz. gold per ton. A short distance to the south is Band-Ore’s Thorne property, where initial estimates on a mineralized gold zone stand at 290,000 tons grading 0.07 oz. gold per ton. Band-Ore has also optioned three of its properties in the area: the Bristol Lake property on Holmer’s northeast boundary, to Teck (TSE); the Wakemac property, 8 km to the southwest, to Cameco (TSE); and part of the Thunder Creek property, on Holmer’s southern boundary, to Hemlo Gold (TSE).
Band-Ore has also started linecutting and geophysical surveys on two properties in Penhorwood Twp., 70 km southwest of Timmins in the recently active Swayze greenstone belt.
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