An exploration program is under way at the King Bay gold property on Sturgeon Lake in northwestern Ontario, reports Redbird Gold (RDB-A).
The King Bay property was previously explored by a number of companies.
Some drilling was carried out in the 1980s when an effort was made to find the source of gold-bearing quartz delineated in several glacial trains.
Redbird’s current program is aimed at investigating the potential source areas of previously identified boulder trains. Assay results from the drilling program are expected shortly.
Meanwhile, shares of Redbird Gold remain halted until the company completes a number of regulatory requests related to its proposed acquisition of two companies with prospecting concessions in Albania. The concessions cover 1,600 sq. km in central and northern Albania, and contain copper and massive sulphide showings.
The Alberta Stock Exchange has conditionally approved the proposed acquisition based on a preliminary prospectus, however final approval is pending the completion of certain conditions.
Redbird is being asked to provide an evaluation of the Albanian properties, as well a receipt for a final prospectus.
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