Moss Lake expands Fountain Lake property

Moss Lake Gold Mines (MOK-T) has acquired the Fountain Lake property, 100 km west of Thunder Bay, Ont., following a cash-and-share deal.

The junior paid $45,000 and issued 4.5 million shares for the 80% interest owned by Landis Mining (LIS-A) and the 20% held by the property’s vendors.

The 24-sq.-km property covers the strike and downdip extension of the Moss Lake gold deposit and is underlain by altered pyroclastic rocks, host to several gold and base metal showings. Moss Lake, a 60% subsidiary of River Gold Mines (riv-t), owns surrounding land.

One of three holes drilled by Landis on the downdip extension of an induced-polarization anomaly discovered on Moss Lake’s ground returned 22.9 metres averaging 1.1 grams gold per tonne. A second hole intersected 25.5 metres of 0.38 gram.

The acquisition expands to 29 sq. km Moss Lake’s holdings in the area.