Toronto-listed Hemlo Gold Mines can earn a half interest in Virginia Gold Mines’ (ME) Sagar III property in the Labrador trough area of Quebec.
To do so, Hemlo must spend $2.5 million on exploration and make payments totaling $200,000.
The 50-sq.-km property contains several mineralized boulder trains, samples from which have returned values up to 106.26 grams gold per tonne and 1.31% uranium.
A glacial drift study will evaluate possible sources of the boulders.
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