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Be the first with the news that moves the market- Red Lake Gold Inc. (RGLD) is purchasing the Fenelon North Gold Project in Northern Quebec
- The property encompasses part of the Jeremie Pluton, a geological feature that has garnered attention recently due to high-grade gold intersects.
- The Wallbridge Mining Company Ltd announced last month it had intersected 43.47 grams per tonne of gold over 19 metres on a separate property in the Fenelon area
- The Fenelon North Gold Project is located 2.5 kilometres from Wallbridge Mining’s claim
- Ryan Kalt, Red Lake’s CEO, describes the properties surrounding the Jeremie Pluton as an “emerging explorations hot spot”
- Red Lake Gold Inc. (CSE: RGLD) was up 8.11 per cent, with shares currently trading at C$0.20
Red Lake Gold (TSX: CSE) is acquiring the Fenelon North Gold Project, located in Northern Quebec.
A junior exploration company, Red Lake is hoping to profit from recent gold discoveries in the surrounding Fenelon area.
“Among other features, the Fenelon North project has substantial coverage of the Jeremie Pluton which is an intrusive structure that has recently come to be understood as increasingly important to gold mineralization discovered in the area” stated Ryan Kalt, Chairman and CEO of Red Lake Gold.
The Wallbridge Mining Company Ltd. have been announcing very positive intersections in the Jeremie Pluton at their Fenelon property. Just last month the company interested 43.47 grams per tonne of gold over 19 metres.
We reported last month that Great Thunder Gold Corp. has also purchased a property that runs tandem with the Wallbridge Mining Company’s claim on the Jeremie Pluton.
The Fenelon North Gold Project is situated one kilometre west of Great Thunder’s newly purchased property and 2.5 kilometres north east of Wallbridge Mining’s Claim.
Mr Kalt describes the properties surrounding the Jeremie Pluton as a “emerging explorations hot spot”.
Red Lake Gold has not yet announced cost of the purchase.
Red Lake Gold Inc. (RGLD) was up 8.11 per cent, with shares currently trading at C$0.20.
