Gold producer Hemlo Gold Mines (TSE) is looking to sell its 48% interest in Central Crude (TSE) and its 60% interest in the Eagle River gold project, near Wawa.
The decision followed a review of Eagle River. Hemlo concluded that the property, while viable, was too small to affect its balance sheet significantly.
Central Crude holds the remaining 40% interest in Eagle River, where reserves stand at 1.3 million tonnes grading 8 grams per tonne. In addition, it is earning a 60% stake in the Moss Lake project, where 60 million tonnes grading 1.1 grams have been estimated.
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