A joint venture has been formed by United Reef Petroleum and Canhorn Mining Corp. to further explore the latter’s Baird Twp. property in the Red lake area of Ontario.
Under the terms of the agreement, United Reef must spend $600,000 in exploration to acquire a 50% interest in the 2,700-acre property.
Previous work on the property, which is adjacent to the former Madsen Mines, has outlined several gold showings.
United Reef plans to start work once regulatory approval is obtained.
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