Toronto-based Glen Auden Resources (TSE) has agreed to sell 152 claims at Keith Twp., Ont., to Tarzan Gold (ASE) in return for the $94,000 which the company has already spent on previous work and acquisition costs. Glen Auden retains a 1% net smelter royalty at the Keith Twp., claims which comprise the western extensions of the regional geology from the Joburke mine property.
The company also retains a 1% net smelter royalty at the Hurtubise Twp., claims which it has agreed to sell to Tarzan for $13,800. Glen Auden will hold on to land holdings which extend westward 14 miles from the Keith Twp., project area in Penhorwood, Sewell-Reeves and Kenogaming twps.
Recent trenching carried on the Sewell-Reeves section has yielded assays up to 1.1 oz gold in 3-ft channel samples.
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