An option to acquire a 50% interest in the Garrison Twp. gold property of Silverside Resources (TSE) in northeastern Ontario has been dropped by LAC Minerals (TSE). Silverside President Babu Gajaria said his company has been approached by a number of majors for a possible joint venture operation. LAC continues to own a 12.5% interest in the property about 20 miles north of Kirkland Lake, Ont.
A preliminary reserve estimate of 600,000 tons grading 0.18 oz. gold per ton, to the 500-ft. level, is indicated by drilling. Gajaria said the reserve total includes 40,000 tons grading 0.21 oz. which is minable by open pit methods.
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