An option to earn a 65% interest in the Lynx gold property in northern Saskatchewan’s La Ronge greenstone belt has been acquired by Vancouver-based Greyhound Communications (VSE). The company, which plans to change its name to Eastmin Resources, is acquiring the option from Minsource Holdings for $100,000 cash and 400,000 treasury shares. Under the agreement, Greyhound can earn the 65% interest from Leeward Capital by making exploration expenditures and cash payments totalling $840,000.
The 688-hectare Lynx property is 40 km northeast of La Ronge, Sask., and lies south of the Bakos gold deposit owned by Cameco and Uranerz. The latter deposit is estimated to contain 1.32 million tonnes grading 8.38 grams gold per tonne (0.24 oz/ton). According to Greyhound, several fault structures similar to those hosting the Bakos deposit have been identified on the Lynx property.
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