An option agreement with two local prospectors gives
Band-Ore will earn its interest by spending $200,000 on exploration over four years. In return, Whalen Resources, the private company dealing the option, will receive 100,000 Band-Ore shares and $100,000 in cash.
The property, in the Shebandowan greenstone belt, near the boundary with Minnesota, was staked in December 1998. A gold showing in a quartz vein west of Cunniah Lake yielded grab samples with grades between 1.2 and 1,878 grams gold per tonne. Petrographic examinations show that the mineralization consists of gold grains held in patches or veinlets of petzite.
The showing, about 1.5 metres wide and 9 metres long, strikes eastward under the lake. Work by previous landholders included sampling of a structure believed to lie along strike to the west, but the showing and its extension under the lake have not been sampled. Band-Ore plans to test the structure by drilling 1,500 metres in early February.
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