Vancouver-based Royal Oak Mines (TSE) recently purchased the interests of Belmoral Mines (TSE), Cabre Exploration (TSE) and Wrightbar Mines (ME) in 58 claims containing the former Broulan and Porcupine gold mines.
Royal Oak has paid out $200,000 and issued 289,640 common shares to Belmoral, Cabre and Wrightbar which own 56.48%, 30.46% and 13.06% of the Timmins, Ont., property, respectively.
The Vancouver company is planning to use the underground workings at its Hallnor property to explore Broulan at depth.
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