A second-phase 16,500-ft drilling program has been started by Shannon Energy on the company’s property near Matagami, Que. The program is testing a geophysical anomaly thought to represent a conducting body 1,000 ft by 1,000 ft in dimension, the company says.
The property is immediately west of Noranda’s Isle Dieu massive sulphide deposit. Shannon has an option to earn a 40% interest in the property from Preussag Canada.
In the Geraldton-Beardmore, Ont., area, Shannon has entered into another agreement with Preussag. Shannon has the right to earn a 50% interest in a grass roots gold exploration play covering 100 sq mi.
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