Shareholders of Northern Minerals are being offered one Integrated common share in exchange for three common shares of Northern Minerals. Before the takeover offer was announced, Integrated shares were trading on the Alberta Stock Exchange at $1.20. Northern Minerals shares were trading in Toronto at 21 cents .
Among its assets, Northern Minerals has a 22.5% stake in a producing placer gold property.
Integrated has an interest in a number of mineral claims in the Laird mining district of northwest British Columbia.
They include the Gnat Pass porphyry copper deposit which contains 25 million tons of grade 0.44% copper per ton. A drill program designed to expand copper reserves and determine the amount of gold in the Gnat Pass deposit is still in progress.
Exploration is under way on a 13,000-acre property known as the Goat claims where highly anomalous geochemical readings have been reported. Like Gnat Pass, the Goat claims are north of the Iskut River valley where the Eskay Creek discovery is.
Grab sample material on the Goat property has assayed as high as 3.57 oz gold per ton, according to Integrated Vice-president Robert Lintell.
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