Featured news
Good drill results from 2015 is encouraging Richmond Minerals Inc. to go forward with its Chapleau area project.
Phase II drilling resumed in July of 2016
Each of four holes in the Aguara East Anomaly intersected gold mineralization. The gold mineralization was widespread, with intersections ranging from 0.42 g/t gold over 44 m to 0.39 g/t gold over 87 m. The highest grade reported was 3.87 g/t gold over one metre in diamond-drill hole RS15-19.
Richmond is conducting a second phase of diamond drilling to follow-up on these results, particularly with a view to test for higher-grade gold intervals at depth.
One of the active companies in the new Chapleau Mining District is Kapuskasing Gold Corp.
It has six projects with intentions to work on two of them, the Rollo and Borden North.
Several mining companies acquired ground around the community of Chapleau after Probe Mines Limited announced a major gold discovery and then sold its Borden Project in 2015 to mining giant Goldcorp Inc. for $526 million.
The property is 160 km west of Goldcorp's mill at the Dome Mine in the City of Timmins.
On July 11, 2016 KAP announced it has closed on a total of 1,640,000 Non Flow-Through Units at a price of $0.05 per NFT Unit and 2,743,334 Flow-Through Units at a price of $0.06 per FT unit for aggregate gross proceeds of $246,600.04.
The size of the Borden Lake Project in the Chapleau area of Nikos Exploration Ltd. has grown to 55 square km.
Nikos has announced that it has staked an additional nine claims covering an area of 1,872 hectares at its Borden Lake Extension Property. The new claims tie on to the south of the company’s existing claims.
The claims were staked following the recently announced results of gold grain counts in till samples taken on the property that showed 15 of 19 samples contained gold grains, with one sample containing 48 grains of gold.
Latest news
