Northern Gold Mining (TSXV:NGM) and Champagne Resources Ltd. announced that they have entered into a letter of intent in which Champagne has granted Northnern Gold the right to acquire all of its mining claims located in each of the Guibord, Michaud and Holloway Townships, Ontario.
As quoted in the press release:
The Champagne Property consists of 21 mineral claims. The 7 claims located in Michaud Township are contiguous to mineral claims currently held by Northern Gold. The 10 claims in Holloway Township lie due south of St. Andrew Goldfields’ Holt Mine and the remaining 4 claims in Guibord Township are contiguous to Lake Shore Gold’s Fenn-Gib project. Subsequent to completion of the Transaction, Northern Gold will hold mineral properties covering approximately 17,000 hectares of land in the area.
Northern Gold’s President and CEO, Greg Gibson, said:
We continue to remain focused on property acquisitions in the Timmins Gold Camp as well as advanced exploration efforts on our existing properties.