Kalahari active near Kirkland Lake

Salt Lake City-based Kennecott can earn a 25% interest in Kalahari Resources’ (VSE) Murdoch Creek property, east of Kirkland Lake, Ont.

In return, Kennecott must spend $1 million on exploration over 12 months. The major can earn a further 25% by spending another $1 million in the second year and an additional 10% by taking the property to the feasibility stage. In other news, Kalahari will buy 13 claims — known collectively as the Broker’s Fee property — near Kirkland Lake for 100,000 Kalahari shares. The purchase is subject to a 3.5% royalty, with Kalahari reserving the right to buy 1.5% of the net smelter return royalty for $1.5 million. The Broker’s Fee property hosts quartz and quartz carbonate veins within sericite schists.