On the advice of a consultant, Toronto-based Stockgold Resources has elected not to pursue an option on the Stock Twp. gold property near Timmins, Ont.
Under a previous agreement, Stockgold was attempting to earn a 100% interest in the property but poor drill results have discouraged the company from conducting any more exploration.
Stockgold says 47 diamond drill core samples were split in the three holes and analyzed for gold. The background value for gold on the property is less than 0.0003 oz gold per ton.
The company said two samples returned anomalous values of 0.0007 oz and 0.001 oz.
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