White-Guyatt set to drill

Satisfied with the results of its phase one exploration program on its Munro Twp. property north of Kirkland Lake, Ont., White-Guyatt Mining says it will proceed with phase two of the program which includes a comprehensive drilling campaign.

In addition to a known series of quartz veins trending east-west, phase one exploration located a series of quartz veins striking in a northeast-southwest direction, the company reports. Both of these series of veins contain gold. Eighty rock samples collected at locations throughout the property indicate a wide distribution of gold with values ranging up to 0.71 oz per ton, the company reports.

In other news, White-Guyatt has entered into an option agreement with Lasir Gold of British Columbia to acquire a block of seven claims owned by Lasir and situated adjacent to the White-Guyatt property in Munro Twp.

White-Guyatt will conduct an exploration program on the Lasir claims within the next 12 months. The company may acquire a 100% interest in the claims by spending $200,000 within 36 months and completing a feasibility study, subject to Lasir’s right to maintain a 25% working interest through payment of 25% of preproduction costs. In lieu of such payment, Lasir would receive a 10% interest in net profits from production.

White-Guyatt President J. L. White says the Lasir claims lie on strike with a similar geological structure already identified on his company’s property.