Glen Auden enters diamond hunt

Subject to regulatory approval, Glen Auden Resources (CDN) has acquired a 100% interest in two claim groups north of Kirkland lake, Ont.

The claim blocks cover clusters of circular magnetic anomalies, which have identical signatures — in terms of size and amplitude — to that of the nearby C-14 diamondiferous kimberlite pipe, according to Glen Auden. To acquire the property, Glen Auden will issue 100,000 common shares, reimburse the vendor’s staking costs and pay a 1% gross royalty from production.

After being dropped from The Toronto Stock Exchange’s listings for failure to meet certain conditions, Glen Auden plans to make an application for reinstatement at a later date.