American Barrick Resources has optioned the Muskasenda Lake gold property from HSK Minerals. The 231-claim property is located 26 miles south of Timmins, Ont.
Barrick can earn a 50% interest by spending $1 million on exploration by March 31, 1991, and making cash payments to hsk of $250,000. A $50,000 payment has been made. Last year, hsk made a gold discovery on the property.
Several encouraging drill intersections were received from a strongly altered 80-ft-wide shear zone striking for 3,000 ft across the property. Gold is associated with disseminated sulphide mineralization ranging from 5%-15%. The best hole cut a 17-ft section grading 0.156 oz gold per ton.
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