Friday, 23rd June 2006 (2272 views)

Lake Shore Gold will now be able to earn 100 per cent ownership of the Northeast Price Property in Ontario, Canada following the completion of an option agreement.

Spread across a geophysical anomaly, it is hoped that the make-up of the rock in the area matches that which could be suitable for gold mineralisation.

The company has detected a similar formation in its Timmins West Gold Project.

According to the company, the Timmins site is characterised by it high-grade mineralisation quartz veins and sulphur occurrences.

If the firm invests $350,000 in exploration, issues 40,000 shares and pays $110,000 over the course of the next three years it will earn 100 per cent interest in the site.

 

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