Detector Resources (ASE) has acquired the Abitibi Phoenix property, 30 km north of Kirkland Lake, Ont.
Spanning 21 sq. km, the property was last drilled in 1985, with encouraging results. These included 3.7 metres grading 7.2 grams gold per tonne, 3 metres grading 3.8 grams gold and 0.9 metre grading 9.5 grams gold.
Detector plans to carry out
an airborne magnetic survey, ground geophysics and mapping.
The vendor, a prospecting syndicate, is receiving $21,000 cash up front, plus 300,000 shares in Detector over a period of three years.
At the Cam King project, Detector’s joint venture with Freewest Resources Canada (TSE), geophysical surveys and trenching are in progress. The partners hope to have a drill on the property before the end of the year.
The new “SW” zone, which is parallel to the known mineralization on the Main zone, yielded samples with gold concentrations of up to 7 grams (T.N.M., Sept. 11/95).
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