With interests in 24 gold exploration projects, Glen Auden Resources will be exposed to $10.2 million of exploration this year. A majority of the funds are being contributed by 14 joint venture partners. The latest is Chevron Canada Resources which has signed a deal giving the company the right to earn a 66.66% interest in a Glen Auden property.
The 300-claim project is located in Tweed and Bragg twps., Ont. The interest can be earned by spending $1.5 million.
A majority of Glen Auden’s claims, such as the 300-claim Tweed-Bragg Twp. project, are in the Burntbush-Casa Berardi area of Ontario and Quebec. Here, the company has staked and acquired 1,975 claims which have been joint venture d to a group of partners. One of the latest deals involves Tarzan Gold, which has optioned a 822-claim property from Glen Auden. Tarzan can earn a 60% interest by spending $3 million.
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