Exploration will resume on Windy Mountain Explorations’ (ASE) MacLeod Lake polymetallic property in northern Quebec following the closing of a $335,000 private placement at 59 cents per share.
Windy says it will carry out a $560,000 program on the property including linecutting, detailed geophysical (IP) surveys, and diamond drilling on selected targets. The program will be partially funded by Cochise Resources (ASE), which has a 50% interest in a portion of the MacLeod Lake property.
Work completed to date by the partners has identified
copper-molybdenum-gold-silver mineralization along the contact of the MacLeod Lake granodiorite with older gneissic rocks. Preliminary reserves are estimated to be 37 million tons averaging 0.44% copper and 0.05% molybdenum.
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