A recent $1.6-million financing will provide funds for NFX Gold (NFXG-C) to explore various properties in northern Ontario.
The junior company’s primary focus will be the Cheminis mine and Raven River property in the Larder Lake area.
The Cheminis mine project is reported to contain reserves in all categories totalling 1 million tons grading 0.19 oz. gold per ton, plus an additional resource of 1 million tons of 0.15 to 0.2 oz.
The Raven River property lies directly south and west of the Cheminis property. NFX is carrying out a sampling, mapping, trenching and drilling program at Raven River, which is reported to contain reserves of 11 million tons of 0.05 oz. gold per ton.
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