Granges options Almaden’s claim

Granges Exploration has optioned Almaden Resources’ Wampum claim block in southeastern Manitoba. The block comprises about 260 sq mi and covers the southwesterly extension of the Wabigoon greenstone belt which hosts a number of major gold deposits in Ontario.

Airborne geophysics has been completed on the property which is covered by sand and glacial till, something that has hampered exploration in the past. Previous exploration was minimal and it was directed at base metals rather than gold. The property is only 60 miles from Winnipeg and there is good road access.

Granges can earn a 60% interest in the property for expenditures of $2 million by May 31, 1992. During the earn-in period, Almaden will be entitled to a series of monthly payments.