Vancouver — With the price of gold rising, NDT Ventures (NDE-V) has picked up a second property in the promising Meliadine trend in Nunavut.
The junior inked a deal with Comaplex Minerals (CMF-T) to earn a 70% stake in the Fox project, some 70-km northwest of Rankin Inlet. Previous work identified a gold-bearing banded iron formation over an 8-km strike length. Mineralization occurs in multiple bands over widths of less than 2-to-greater than 40 metres. Of the 76 grab samples collected over a 5-km stretch, 20 of them returned greater than 5 grams gold per tonne, with the highest value yielding 43 grams gold.
The new property lies adjacent to NDT’s Amarok claims, where 16 of the 57 grab samples collected returned greater than 1 gram gold.
NDT can earn its interest by issuing 500,000 shares, paying $150,000 and spending $1.125 million over 5 years.
The company plans on launching an airborne geophysical survey of the properties this month.
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