Minieres du Nord acquires claims near Murgor find

Montreal-listed Explorations Minieres du Nord (MDN) has acquired 29 claims northwest of, and contiguous to, the gold discovery recently announced by Murgor Resources (VSE).

The claims lie within Barry Twp., east of Lebel-sur-Quevillon, Que. MDN can acquire the ground from privately owned Carat Exploration in return for $10,000 cash and issuance of 50,000 MDN shares at 20 cents each. In addition, MDN will pay Carat a further $79,000 over three years. The property is also subject to a 1.5% net smelter return royalty, three-quarters of which MDN can buy back for $500,000.

Geophysical surveys and diamond drilling are planned the near future.