Stroud Resources (SDR-T) has signed a $3-million deal with privately owned Wabana Explorations to acquire the Leckie gold project, near Temagami, in northern Ontario.
Wabana must make initial payments totalling $50,000 and spend $1 million on exploration over the next 18 months. Exploration is scheduled to begin next month.
Reserves at the Main zone of the Leckie project stand at 405,000 tons grading 0.2 oz. per ton. Recent drilling at the No. 2 zone, 250 ft. west of the Main zone, returned a 15.5-ft. intersection grading 0.136 oz. gold.
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