Wednesday, 29th June 2005 (2881 views)

ValGold Resources has revealed that it is to enter into an agreement to purchase an advanced gold exploration project in Canada.

The Timmins/Kirkland project in northern Ontario consists of 35 patented claims in Garrison Township, located 40 kilometres north of Kirkland lake, and 100 kilometres east of Timmins.

ValGold plans to review the historical information it has about the project, which was first explored in 1935, resample and remodel the gold zones.

In 1998, DDH Geomanagement estimated the five gold zones of the project contained gold mineralisation to a depth of 1,000 feet of 513,800 tonnes at 0.28 oz opt over 11 feet width, at a cut-off grade of 0.15 opt gold.

ValGold expects its next surface drill project to get underway at Timmins/Kirkland by late summer or autumn 2005.

 

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