Junior Goldbrook Explorations (GDK-A) can earn a half interest in the Jubilee-Surluga gold property, near Wawa, Ont., from Citadel Gold Mines (CIGD-C).
The 5,968-acre property includes 12 former gold mines, which produced 188,400 oz. from 1902 to 1989. Two of these former mines, the Jubilee (1929-39) and the Surluga (1968-69, 1989-90), were developed on a 50-to-150-ft.-wide shear zone that extends north-south across the property for 4 miles.
Sericitic alteration and disseminated gold occur where the shear zone cuts through a body of intrusive diorite into felsic volcanics. The gold-mineralized zone within the shear averages 75 ft. in width and extends to a depth of at least 1,000 ft.
An independent reserve estimation is under way, and drilling is planned for the first quarter.
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