A private placement worth $192,000 will enable Baden Explorations to continue exploration work on property in Baden Twp. in northeastern Ontario, the company reports.
The company’s property comprises 18 contiguous claims situated on the western extension of the Kirkland Lake structure about eight miles north of Young-Davidson and the Matachewan Consolidated gold mines. Surface stripping and a drill program are planned for the property.
Eight quartz vein structures mineralized with pyrite and occasional visible gold have been explored by trenching by previous owners, President I. C. Christopher reports. No 6 vein has been traced for 900 ft along strike but may extend for several hundred feet to the northeast.
Three shallow drill holes along a strike length of 150 ft returned values from 0.26 oz gold per ton across 4 ft in mineralized wall rock on up to 0.66 oz across 2.5 ft of vein material. A later drilling program on the vein, Mr Christopher reports, cut 0.47 oz across 0.2 feet in hole No 2; in hole No 4, two significant intersections were 1.17 oz across 7.5 ft and, lower, 5.48 oz across 2 ft.
Baden also has an interest with Honcho Gold Mines in two properties in the Casa Berardi area. A program of geophysical surveying was completed last winter; drilling is planned for the properties this summer.
Baden is also negotiating with a group to acquire an interest in the Carefree Creek gold property at Cave Creek, Ariz., 30 miles from Phoenix.
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