EnGold Mines Ltd. announced last week (Feb. 19) it has acquired an option to purchase (right to buy at a pre-determined price) a property that comprises 875 hectares of mineral claims north of the Mt. Timothy ski area. The Tam Property, as it’s called, adjoins the company’s Lac la Hache property directly to the east of the Aurizon Gold Deposit, according to president and CEO David Brett.
“Acquisition of the Tam Property allows us to extend the Spout-Aurizon trend at Lac la Hache out to roughly 10 km, said Rob Shives, VP Exploration. “On the Tam Property itself, existing induced polarization, magnetic, geochemical anomalies and surface showings are completely untested at depth and warrant more work.”
Exploration conducted on the property between 1966 and 2008 identified gold prospects but only limited shallow historical drilling has been completed on the property, according to the company.
The agreement with the vendor is subject to the approval of the TSX Venture Exchange.