Exploration and development programs around Night Hawk Lake, 25 km east of Timmins, Ont., have junior companies flocking to the area.
Moneta Porcupine Mines (TSE) has a long-established land position in the area, north and west of Royal Oak Mines’ (TSE) Night Hawk Lake project. Moneta’s recent acquisitions have increased its holdings there to 15.4 sq. km. The company plans to drill several targets this spring.
East West Resource (VSE), which controls a large land package in Macklem, Bond and Currie twps. with Cross Lake Minerals (VSE) and Canadian Golden Dragon Resources (VSE), has dealt Golden Knight Resources (TSE) an option to earn a half interest in the holdings following that company’s completion of a $1.5-million exploration program.
Recent arrivals to the area also include Leader Mining International (ASE) and a joint venture of NCC Mining (VSE) and Sarabat Gold (VSE).
Leader plans to carry out 1,000 metres of drilling on eight electromagnetic conductors on its property. NCC and Sarabat have each acquired an option to earn a half interest in a property in Whitney and Cody twps., west of Royal Oak’s land package. Under the terms of the agreement, the two companies must spend $75,000 each in exploration work over a 3-year period.
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