As a first step in the expansion of its activities, Isleinvest (ASE) has agreed to acquire the Swiss mining claims and related assets of Societe d’Exploration d’Or Helvetique of Toronto.
Subject to the approval of Helvetique’s shareholders, Isleinvest will pay $170,000 and 45,715 common shares for the claims, the most significant of which is in the canton of Graubunden. The 125-sq.-km claim contains significant samples of gold mineralization which appear to be associated with massive and disseminated sulphide units. Extensive ground geophysical and geochemical surveys have been completed, as well as 3,900 metres of drilling in 17 holes.
The drilling has revealed low-grade mineralization over extensive widths, as well as higher-grade mineralization over smaller widths. Assay results include 25 metres of 0.06 oz. gold per ton, 11 metres of 0.07 oz., 43 metres of 0.04 oz., 2.1 metres of 0.21 oz., and 0.8 metre of 0.5 oz.
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