Michele to start work on Addington

Drilling should begin this week on a gold bet 120 miles east of metro Toronto.

Known as the Addington property, it has geological reserves of 785,000 tons grading 0.13 oz gold per ton, according to Cathedral Gold Corp., a spin-off company of Imperial Metals and holder of the property. Proven and probable reserves are 318,000 tons gradig 0.16 oz.

Widths of 33.5 ft averaging 0.347 oz have been intersected in earlier drilling, according to Cathedral.

Vse-listed Michele Gold Mines of Toronto (a John Sadowski company, formerly known as Sands Minerals Corp.) is financing the work. It will include stripping and trenching this spring, according to geologist Donald Borne. The company hopes to bring the property to the pre-feasibility stage by the end of the year.

Michele can earn a 49% interest by spending $4 million over 3 years.

The money used to finance the work this spring is being provided by Canhorn Mining Corp., which has purchased 800,000 Michele shares for $300,000. Michele’s shares traded in Vancouver this week at about 38 cents .