Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
LaSalle Exploration (TSXV: LSX) announced that it is about to kick off a field exploration program on its Blakelock gold property in northeastern Ontario.
In a press release, LaSalle said the campaign is fully funded from the company’s oversubscribed IPO that raised $1.94 million.
LaSalle acquired Blakelock from Pan American Silver subject to a $400,000 exploration expenditure by LaSalle and a retained 2% net smelter returns royalty with a buydown to 1%
The program will include approximately 40-line kilometres of deep penetrating induced polarization surveying on several areas deemed as high potential for the extension of known gold zones, up-ice of basal till gold anomalies not yet tested, and over unexplored areas of the property. A summer program consisting of geological mapping, prospecting and geochemical sampling is also planned.
The 3700-hectare Blakelock project is located in the Abitibi Greenstone Belt and covers 15 kilometres of the Casa Berardi Break, 55 kilometres west of the multi-million ounce, high-grade Casa Berardi gold mine operated by Hecla Mining.
According to La Salle, the CBB, interpreted from airborne magnetics and rock sequences similar to those hosting the Casa Berardi mine, traverses the central portion of the property.
