Tanqueray Resources has expanded its exploration activites during the past quarter, the company says. In the N.W.T., Tanqueray has acquired an option to earn a 47.5% interest in a 15,000-acre property at Russell Lake. Operated by Aber Resources, the property covers geology similar to that on the Tundra gold property controlled by Getty Resources and Noranda Inc nearby.
Also, the company has optioned its Cameron River property to Equity Silver Mines. Equity can earn a 60% interest in the ground by spending a total of $1 million. Drilling is in progress.
In Ontario, Tanqueray is busy northeast of Red Lake where 94 claims have been staked near the Richardson Lake gold discovery of Golden Terrace Resources. Southwest of Dryden, the company has completed a sampling and prospecting program at Caviar Lake. Grab samples returned assays of 0.24, 0.27 and 0.89 oz gold per ton. A 2,000-ft drill program is in progress. Abo Resources is a 50% partner in this project.
The company also holds a 6.25% interest in the Forty Mile 1-22 gas well in Alberta. The well flowed in excess of 8 million cu ft per day. Calculated absolute open flows are 23 million cu ft per day. Production is expected by year-end, Tanqueray says. Affiliate comany Estaurum Mines was listed for trading on the Alberta Stock Exchange this year.
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