Options on two blocks of claims near Red Lake, Ont., have been taken by Golden Tag Resources (VSE).
The first, a block of eight claims in Dome Twp., covers the northern tip of McKenzie Island and the surrounding waters of Red Lake. The second is a block of 36 claims in Heyson Twp., south of the town.
The McKenzie Island claims occupy patented land belonging to McCuaig Red Lake Mines, an unlisted company. They lie immediately north of the McKenzie Island mine, which produced just over 650,000 oz. gold between 1935 and 1967.
Samples from trenches opened on the McCuaig property in 1936 returned assays in the range of 0.1 to 0.4 oz. gold per ton. Some shallow holes were drilled in 1938, returning what was then described as “low values over good widths.” McCuaig Red Lake last explored actively around 1947, largely in the hope that the northward-plunging McKenzie structure extended on to the McCuaig claims. There is no record that the down-plunge extension of the McKenzie structure, which is believed to be about 2,500 ft. deep on the McCuaig ground, has been drill-tested.
The Heyson Twp. property adjoins ground held by Madsen Gold (TSE) and is reported to have a number of gold showings. The option agreement is subject to the approval of securities regulators.
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