Tyler Resources has acquired an option to earn a 45% interest in two claims blocks controlled by Golden Rule Resources. Located near La Ronge, Sask., the properties cover geology favorable to hosting gold mineralization similar to that occurring at Star Lake and Mallard Lake, also in the La Ronge area.
Tyler, which is an affiliate company of Golden Rule, can earn its interest by spending $250,000 on exploration and issuing 100,000 common shares to Golden Rule. The Saskatchewan Mining Development Corp. holds a 10% interest in the properties.
Tyler and Golden Rule have also teamed up to explore Tyler’s 43,000-acre Parker Lake property which will be explored for platinum group metals. Located in northern Saskatchewan, the property will be shared by the two companies equally. Exploration, scheduled to start this month, will include geochemical surveys, lake sediment- sampling and regional prospecting. The program is budgeted at $65,000.