Red Mile Minerals Acquires 100% Interest in Esker Gold Property

By Staff,

Shutterstock photo

Red Mile Minerals Corp. (RDM.V) has, subject to regulatory approval, acquired a 100% interest in the 1,100 hectare Esker Gold Property located west of Pickle Lake in northwestern Ontario.

The property is contiguous to the southeast with the Golden Patricia mine, which produced 450,000 ounces of gold at a head grade of 14.9 g/t Au while operated by Barrick Gold from 1988 to 1996.

John Hickey, President & CEO of Red Mile commented: "We are excited about acquiring a quality property with high grade gold potential in a structurally favourable setting that has been under-explored and has gold showings located at surface. To date, there has been limited drilling to test the gold zone. Its proximity to a past producer and the advantages of available infrastructure in the area are also attributes that attracted us to the property."

To acquire the property, Red Mile will, subject to regulatory approval, issue 1,000,000 common shares of Red Mile to DLK Minerals.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks:

More from MT Newswires


MT Newswires

MT Newswires

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by