Red Lake deal extended

Vancouver-based ITL Capital (ICL-V) has been granted an additional year to earn a 50% interest in a gold property in Ontario’s Red Lake camp.

The company now has four years to earn a 50% interest in the Durham-Ewan property from Rupert Resources (RUP-V). To earn the interest, ITL must spend $1.8 million on exploration. The junior has already spent $550,000 on exploration and plans to resume drilling this summer.

The program is designed to test a deformation zone that hosts the neighboring Goldcorp mine property.

ITL also holds a 50% interest in the CJ claim group in the Northwest Territories. The properties are being explored for their diamond potential.