Avalon gets $2.5 million from Sibelco to advance non-JV projects
The companies are partners on the Separation Rapids lithium project in Kenora, Ontario, which is currently in the drilling stage.
Northern Superior Resources (TSX-V: SUP) issued a press release this week stating that it is ready to move forward with both its TPK gold-silver-copper project located in northwestern Ontario and its Lac Surprise gold project located in Quebec.
The Sudbury-based company said it expects to start drilling at the Ti-pa-haa-kaa-ning property, known for its initials TPK, by mid-February, following the completion of an option/joint venture agreement with Yamana Gold (TSX: YRI) (NYSE: AUY) at the tail end of 2018.
The massive Ontario mine site, which occupies 442,669 hectares and sits 15 kilometres west of the Ring of Fire, is considered to host the largest gold grain-in-till dispersal aprons in North America
The massive Ontario mine site, which occupies 442,669 hectares and sits 15 kilometres west of the Ring of Fire, is considered to host the largest gold grain-in-till dispersal aprons in North America, with drill core intersections yielding up to 25.9g/t gold over 13.5m.
When it comes to the Lac Surprise property, Northern Superior said that further development is also expected following the closing of a $1 million, non-brokered, flow-through private placement on December 31 and the completion of a 10:1 share consolidation in early January.
The miner wants to use the recently acquired funds to demonstrate the extension of the gold-bearing structures reported on the adjoining Nelligan property controlled by IAMGOLD and Vanstar Resources.
Lac Surprise is located within the historic Chapais-Chibougamau mining camp and includes major regional structures associated with recent gold mineralization discoveries. Besides that of IAMGOLD and Vanstar, such other nearby discoveries include TomaGold and IAMGOLD’s Monster Lake property, and Ressources Géoméga’s Anik Gold property.
