Diamond drilling is expected to get under way this month on the recently acquired gold property of Frankfield Explorations in the Pickle Lake area of northwestern Ontario, President O. F. Carter tells The Northern Miner. The 50-claim group adjoins the St. Joe Canada project, where an active underground program is under way to develop a high grade gold deposit for early production.
Frankfield has already completed ground geophysical surveys, which work indicated several drill targets in a favorable geological environment.
North American Rare Metals is providing $250,000 for the current program to earn a 50% interest in this property. That company has the right to convert its interest into shares of Frankfield at the rate of 60 cents per share.
In addition to its Pickle Lake project, Frankfield also holds a 36.4% interest in 22 patented claims in Tully Twp. in the Timmins area where between 300,000-400,000 tons grading 0.25 oz gold was indicated by previous drilling. A new and extensive work program is being considered for this property.
The company’s shares were recently listed on the Alberta Stock Exchange (trading symbol fel).
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