Sharpe Energy and Resources has acquired 292 claims in the Ming’s Bight area of Newfoundland close to where Noranda Exploration made its mineralized occurrences discovery last year.
Noranda discovered two occurrences of visible gold 175 m apart in the hills surrounding Devil’s Cove Pond in June 1986 as a result of geological mapping and prospecting. The occurrences were in chlorite schist and quartz veins.
President Walter Sharpe said his company has farmed out a 50% interest in the Bight area property to HSK Minerals, 40% to Joutel Resources and 10% to Share Mines and Oils for a total expenditure of $500,000 over a three year period. Base lines and geochemical work on the property are expected to begin immediately.
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