Management of Gold Canyon Resources (CGU-V) reports that Cameco (CCO-T) has dropped its option to earn an interest in the Springpole Lake gold project, 113 km northeast of Red Lake, Ont.
The project was previously tested by Santa Fe Pacific Gold, which also dropped its option on the property.
Gold Canyon says it is continuing discussions with other parties interested in the project. In the meantime, the junior will carry out a drill program this summer, with work aimed at establishing land-based gold resources.
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