Marl acquires Stoughton Staz

An agreement with Battle Mountain Canada (BMC-T) sets the stage for Marl Resources (MOC-A) to earn up to a 50% interest in the Stoughton Staz gold prospect in the Harker-Holloway region of eastern Ontario.

Battle Mountain has spent more than $775,000 exploring the prospect, with work focused on the Stoughton Alteration zone.

The gold-bearing zone has been traced for about 1.2 km along strike, and is still open along strike for 0.5 km to the west and 1.5 km to the east. It extends from 100 to 400 vertical metres below surface and remains open at depth.

The style of gold mineralization is believed to be similar to Battle Mountain’s Holloway mine and Barrick Gold’s Holt-McDermott mine, both of which are about 14.5 km from Stoughton Staz.

Previous drilling returned mixed results, including broad intervals of low-grade mineralization (32.4 metres of 1.07 grams gold per tonne) and narrower intervals of high grade (up to 39.42 grams over 0.7 metre and 20.05 grams over 1 metre).

To earn its half-interest, Marl must spend $275,000 on exploration before April 2002, make cash payments of $45,000 and issue 300,000 shares to the original vendors.

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