Gold-hungry juniors stake out Timmins ground

Several juniors are acquiring ground in the Timmins, Ont., area, as they search for signs of the elusive yellow metal.

In Reeves Twp., Cross Lake Minerals (VSE) has acquired a 100-claim property covering a 5-mile section of the Pipestone deformation zone for $10,000 and 100,000 Cross Lake shares.

The ground is underlain by what the company refers to as the equivalent of Kamiskotia volcanics, which host numerous copper-zinc deposits.

The property also hosts untested, airborne electromagnetic anomalies that may indicate the presence of either massive sulphide occurrences or interflow graphitic horizons (a known setting for gold mineralization). Cross Lake has also interpreted airborne magnetic data and delineated three splays of the Pipestone fault.

The company plans to carry out induced-polarization (IP), resistivity, magnetic and geological surveys on the property over the coming months.

Meanwhile, in Timmins Twp., East West Resources (VSE) is completing ground geophysical surveys on its 184-claim property in Timmins Twp.

Previous work outlined two 1,000-ft.-wide IP anomalies coincident with mineralized pyrite-sericite schists. Samples from outcrop yielded assays as high as 3.5 grams gold per tonne.

East West has also purchased, for $12,200, a half interest in 179 claims contiguous with, and south of, the above property. Canadian Golden Dragon Resources (VSE) holds the other half.

An extensive grid has been cut over the projected trend of the structures. Interpretation of data suggests the sericite schist zones may extend up to 6 miles in length and cut both felsic and mafic volcanics. The companies will explore the schist zones and look for other parallel structures.