Granduc and Black Hawk consolidate land package near Lynn Lake camp

The Keystone joint venture has acquired the remaining interest in the Wasekwan Belt property, near its producing Burnt Timber mine, southeast of Lynn Lake, Man.

Minority holders Trans America Industries (VSE) and Boron Chemicals International (VSE) are exchanging their 49% interest in the 51-sq.-km property for 125,000 shares of Granduc Mining (TSE), 100,000 shares of Black Hawk Mining (TSE) and a 1.5% net smelter return royalty on future production.

The claims are on the Johnson shear zone, which hosts the joint venture’s BT open-pit mine and several other gold occurrences.

The group is producing gold from BT and developing the Farley Lake gold deposit, east of Lynn Lake, for production this year.

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