Moss expands presence in Timmins

Junior Moss Resources (MRS-T) has acquired the Southern Cross base metal property, 30 km south of Timmins, Ont.

While some of the 3,092-ha property was bought outright, 84% is held under an option agreement whereby Moss must pay private vendors $112,500 in cash, issue 300,000 shares and spend $450,000 on exploration over the next four years.

The deal, which has yet to be approved by regulators, leaves the vendors with a 2% net smelter return royalty. Moss, however, can buy back half of that royalty for $500,000.

Previous work, though limited, uncovered several mineralized showings and prospects. Drilling has returned 25.71 grams gold and 133.72 grams silver per tonne over 3.66 metres.

Moss is about to begin a program of prospecting, mapping and geochemical sampling around the known mineralization and in areas containing untested electromagnetic anomalies. Future exploration will depend on the outcome of this initial work.

Meanwhile, preliminary drilling at the company’s nearby Curregan property has intersected anomalous copper, lead and zinc in intermediate and felsic volcanic rocks. A total of 964 metres in seven holes were drilled.

Moss is exploring Curregan as a 50-50 joint venture with Greenshield Resources (GSR-M). The property is near the Sheraton Twp. property of Cross Lake Minerals (CRN-V).