| Lennie Project |
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Lennie |
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Country |
Canada
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Status |
GREEN EXPLORATION
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Number of claims |
10 |
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Legends
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| Risk and valuation analysis of the Lennie Project |
| Status Risk : Green exploration |
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| Title(s) of the Lennie Project |
 | Premier Gold Mines Ltd.
Interest: 100% |
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| Title | Company Profile | All Projects | Company website | Company project page |
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| For this acquisition, Premier will pay $400,000 in cash payments over three years and 160,000 shares of Premier, including $100,000 and 40,000 shares on signing. A 3.0% Net Smelter Return royalty ("NSR") is payable to the vendor, of which one-third (1% NSR) can be purchased at any time for the sum of $1.0 Million. A finders' fee is payable to an arm's length party in relation to this transaction. |
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| Location of the Lennie Project |
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The Lennie Project is strategically located northeast of the Red Lake Gold Mines complex along the same geological contact that hosts the major gold mines in Red Lake.
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| History of the Lennie Project |
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The last exploration to occur on the Lennie property was a small, shallow drill program in 1996. That program intersected faults containing mineralized quartz-carbonate veins in Balmer rocks. It is anticipated that deep drilling will begin in the spr more...
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| Geology of the Lennie Project |
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It covers the important unconformity between the ore-hosting Balmer volcanic rocks and the overlying sedimentary rocks. Folded ultramafic rocks and conjugate fault structures, similar to those at the mine, are interpreted to be located on the Lennie claims and will be the focus of an exploration program that will begin immediately on the property, including diamond drilling.
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Disclaimer
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All information on this page comes from internal and external sources deemed reliable. This information might not be up to date, so please perform due diligence before making any conclusion or making any action. Do contact us should any information be missing or incorrect.
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