Durga President deals Allan bet to own company

Situated 60 miles northeast of Yellowknife, the Allan Lake property contains several geological drill targets defined recently by Noranda following a geological mapping and geophysical surveying program. The drill targets were defined with an anomalous zone which can be traced over a 0.62-mile strike length.

Historically, high grade quartz vein type gold mineralization of up to 11 oz gold per ton among trench samples and 13.01 oz gold over 1.3 ft in a drill hole was reported by previous operators. “One hole drilled through an apparent iron formation intersected seven feet of grade 0.36 oz gold per ton,” Nikhanj said.

“Toward the south end of the property, channel samples in rhyolite returned values of 4.8% zinc over 50 ft and 2.5% zinc over 33 ft with gold assays of 0.09 oz,” he said.

In return for his interest in the property, Nikhanj will receive, pending regulatory approval, 449,100 Durga shares. They were trading recently on the Alberta Stock Exchange at around 45 cents .

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