Additional ground has been optioned by Silverside Resources in the Harker-Holloway area east of Matheson, Ont. The company has the right to acquire a 100% interest in 13 patented claims located in Garrison Twp. The claims are situated next to existing ground shared by Silverside and Lac Minerals. The total claim holding is 106.
The new addition will come under the terms of an option agreement between Lac and Proteus Resources, a Silverside affiliate, which gives Lac the right to earn a 50% interest.
Exploration work by Lac has outlined reserves of 275,000 tons grading 0.17 oz gold per ton. Of this, 40,000 tons is believed to have open pit potential. The mineralized zone, which is open along strike and below 500 ft, is associated with a zone striking for 3,200 ft in the northern section of the property.
In Saskatchewan, Silverside can earn a 49% interest in a 15,000-acre property near Uranium City. A reconnaissance survey of the large holding has identified three different zones displaying potential for platinum group metals, in addition to base and precious metals.
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