Alberta-listed Detector Resources has completed a major transaction involving a private placement and agreements to earn interests in two properties in northwestern Ontario.
Detector has privately placed flow-through shares for gross proceeds of $177,500 and signed agreements concerning the Randall Lake and Pistol Lake properties.
The former comprises more than 4,000 acres and is within the same sequence of rocks as the Musselwhite deposit, owned by Placer Dome (TSE) and TVX Gold (TSE). Detector will perform magnetometer and induced-polarization surveys this fall to search for auriferous sulphide deposits found within iron formations.
The Pistol Lake property, 90 km west of Thunder Bay, has a fractured and brecciated zone between volcanics and porphyritic rocks. This zone will be drill-tested to search for mineralization at depth.
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