Cameco options Tri Origin’s English property

Tri Origin Exploration (TSE) has optioned a stake in its English Twp. property near Timmins, Ont., to Cameco (TSE).

The latter can earn a 60% interest in the 73-claim package by spending $750,000 on exploration over four years. It is believed the claims have potential for hosting gold and nickel sulphide mineralization.

After Cameco earns its interest, the property will be explored on a 60-40 joint-venture basis.

Elsewhere in Ontario, Tri Origin has started a 1,500-metre drill program at its wholly owned Sault project 90 km north of Sault Ste. Marie, Ont.

The program is aimed at testing two gold-bearing massive sulphide occurrences on the western portion of the property. Previous shallow drilling cut 5.5 grams gold per tonne in the southern zone and 7.2 grams in the northern zone. Results from the latest round of drilling are expected by early August.