Toronto-based Noront Resources (VSE) has entered an agreement with prospector Don McKinnon to acquire a 60% interest in the Hurdman Twp. base metal and Clavos West gold properties in northern Ontario.
Upon signing the agreement, Noront will pay out 100,000 treasury shares to McKinnon and spend $400,000 on the properties over the next four years. Consisting of 67 claims, the Hurdman Twp. property is 11 miles north of Smooth Rock Falls. It hosts several mineralized conductors where previous operators reported values as high as 10.5% zinc over 4.2 ft., 2.8% over 15.2 ft. and 1.5% zinc, 0.018 oz. gold and 0.67 oz. silver per ton over 29.5 ft. within at least two sulphide zones.
While the sulphide zones have already been drill tested, a number of other electromagnetic targets remain untested. Noront is planning a ground geophysics program to relocate and define the zinc-bearing sulphide zones and several of the better airborne anomalies.
The 9-claim Clavos West property is 24 miles east of downtown Timmins, Ont., in German Twp. and covers the westerly extension of a geological feature known as the Pipestone Fault. The property is also adjacent to a Clavos gold deposit outlined by partners Canamax Resources (TSE) and Bruneau Mining (ME) which is known to contain reserves of 1.2 million tons grading 0.15 oz.
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