Stockmen Minerals (ASDE) has entered into a share exchange agreement with Tyler Resources Inc. (TSE) whereby Tyler will become the majority shareholder of Stockmen.
Diamond drilling has commenced on the Indin Lake, N.W.T., gold project recently joint ventured by Manson Creek Resources (VSE) and Stockmens. The initial 1,000-m drill program is designed to evaluate a series of auriferous shear zones in which high grade gold values have been previously reported.
The 2,700-acre property is owned by New Lintex Minerals, which has entered into an option agreement with Manson Creek and Stockmen, under which they can jointly fund $1.5 million in exploration over five years to earn a 60% participating interest in the property.
Previous exploration in the 1950s included underground exploration which outlined two zones of mineralization called the Indigo, with a reported mineral inventory of 72,500 tons grading 0.36 oz gold and the North Inca with a reported mineral inventory of 90,000 tons grading 0.20 oz.
The property is about 10 miles south of the Colomac project currently being prepared for production by Nepturne Resources Corp.
Manson Creek and Stockmen have contracted Manson Creek’s parent company, Golden Rule Resources (TSE) to design an exploration program to evaluate the economic potential of the property as soon as practicable.
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