Glen Auden options three projects

The market crash doesn’t appear to have slowed down the deals being made by Glen Auden Resources. The junior explorer, which identifies project areas and then brings in partners to carry the company for exploration, completed two more option deals this month.

A 122-claim property in Maisonville Twp., Ont., has been optioned to Newbury International Ventures, which can earn a 50% interest by spending $500,000 on exploration. At the Verse Lake property, Jewel Resources can earn a 50% interest by spending $200,000.

Another project along the Casa Berardi trend near the Ontario- Quebec border, has been optioned to Noranda Exploration. Noranda can pick up a 50% interest by spending $500,000 over a 4-year period. Another 20% can be earned after an additional expenditure of $500,000. Glen Auden has outlined several geophysical conductors which are massive sulphide targets.

In the same general area, partner Chevron Minerals is starting a 6,000-ft drill program on the Tweed and Blakelock twps. project. This work will test several massive sulphide and gold targets.

South of Timmins, Ont., in the Swayze area, Can-Mac Exploration is funding exploration on the Top Boot property. A 5-hole shallow drill program yielded assays up to 0.08 oz gold per ton. Can-Mac has stripped a 35-ft-wide quartz zone along 600 ft of strike. The zone is sulphide-bearing along its entire strike length. Can-Mac can earn a 50% interest by spending $900,000 on exploration over a 3-year period.