Golden Myra latest player in Goudreau-Lochalsh camp

The latest player in the Goudreau-Lochalsh mining camp northeast of Wawa, Ont., is Golden Myra Resources (TSE). Newly-listed, the company completed a share offering which netted $756,000.

The funds will finance an exploration program on the company’s four claim groups totalling 21 claims. A 15,000-ft drill program, scheduled to begin in the fall, will follow up a ground geophysical program, President Wayne McChris tie told The Northern Miner. The first phase program, which will include the drilling, is budgeted at $380,000.

Golden Myra’s most promising property is located less than a mile east of the Kremzar deposit which is being readied for production by Canamax Resources (TSE). The claims protect the eastern extension of the Kremzar shear zone which strikes for two miles across the property. A surface sampling program returned grabs assaying up to 0.367 oz gold per ton, Myra says. The claims also centre on the Michael shaft which was sunk by previous operators.

The Pine Lake property, located south of the Michael shaft claims, protects the eastern extension of the Goudreau shear zone, which strikes parallel to the Kremzar shear zone. Golden Myra’s other two properties are located north of the Kremzar deposit and northwest of the Magino mine development, located in the eastern sector of the camp.

Investor interest in Myra remains high following news that Canamax took down a large piece of the underwriting. Also, Canamax officer Frederick Johnston is a director of Myra.