Glen Auden Resources has signed an option deal with Ventex Energy Ltd., giving the former company the right to acquire a 50% interest in a 156-claim property near Atikokan, Ont. Glen Auden can earn the interest by spending $500,000 on exploration and paying Ventex $27,000.
During the 1940s, exploration identified several gold showings. Drilling of one of these showings yielded 12.5 ft grading 0.3 oz gold per ton and 12 ft assaying 0.278 oz. Work by Ventex has focused on a strongly altered shear zone which assays up to 0.335 oz in grab samples.
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