An option agreement concerning the Thunder Creek property, found west of Timmins, Ont., has been signed by Band-Ore Resources (CDN), the property owner, and Hemlo Gold Mines (TSE).
Hemlo can earn a 60% interest in the 66-unit property by spending $1.5 million on exploration and paying $200,000 cash.
Thunder Creek hosts several lenses and bands of ultramafic and porphyritic intrusives within altered volcanic and sedimentary rocks. A deformation zone with gold mineralization and strong alteration has also been discovered. The property adjoins ground where drill intersections have ranged from 0.15 oz. to 0.33 oz. gold per ton over widths of between 5 and 20 ft. Hemlo recently started ground geophysical surveys and diamond drilling at Thunder Creek.
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