Joint venture partners Hemlo Gold Mines (TSE) and Mishibishu Gold (VSE) have started a summer work program of backhoe trenching, sampling and prospecting on their 371-claim Pukaskwa River gold property in northern Ontario. The property is within the western portion of the Mishibishu gold belt. The Vancouver-based junior company says trenching has already exposed several quartz veins hosted by shear zones, and assay results are expected shortly. The program is also testing a series of geochemical gold anomalies outlined by a soil sampling survey.
Hemlo Gold holds an option to earn a 51% interest in the Pukaskwa property by spending $6.7 million on exploration over a 4-year period. Hemlo Gold’s affiliate Noranda Exploration is the operator at Pukaskwa.
Meanwhile, Mishibishu has also entered into a separate agreement with a numbered British Columbia company to acquire two claim blocks west of the Williams mine in the Hemlo gold belt. Subject to regulatory approval, the 55 claims will be purchased for $19,690 plus 100,000 shares of the company. A surface exploration program is also planned for the new property where an
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