Duration and Locator in Sault joint venture

Toronto-listed Duration Mines has entered a 3-way joint venture with Locator Explorations, and a private company called Aurogin Resources to explore 86 claims in the Sault Ste. Marie, Ont., mining division.

Duration and Locator are already equal partners at the Theresa gold mine property near Longlac, Ont. which is expected to be in production later this year.

Duration says the joint venture partners will each contribute one third of the cost at Sault Ste. Marie to retain a one-third interest in the project.

Additional claims have also been acquired around the original 86- claim block, Duration says.

To follow up on values obtained from surface showings, stripping and limited ground geophysics, a diamond drilling program has begun.

So far, Duration says visual and geochemical analysis indicates that ore grade values in gold, silver and copper over 8 ft, 12 ft and 21 ft have been intersected in the first three holes

While more assay results from this property are expected soon, Duration says it has gained approval to delist its shares from trading on the Vancouver Stock Exchange.