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Laurentian Goldfields Ltd acquires second red lake property from Sabina Gold & Silver Corp

Tuesday, 14 Jan 2014 06:30am EST 

Laurentian Goldfields Ltd:Says it has signed a Letter of Intent to acquire a 100% interest in the Newman-Madsen Gold Property from Sabina Gold & Silver Corp.Says the Newman-Madsen Property is adjacent to the Madsen Gold Project which Laurentian entered into a Definitive Agreement to purchase from Claude Resources Inc on Dec. 19, 2013.Says together the two properties comprise in excess of 5,000 hectares in the prolific Red Lake gold camp of Northwestern Ontario.Says the consolidated property consists of two former gold producers including the Madsen Gold Mine which had previous gold production of 2.4 million ounces.Says closing of the Newman-Madsen and Madsen transactions are expected in Feb. 2014.Says Macquarie Capital Markets Canada Ltd is acting as financial advisor to Laurentian with regard to the acquisition and financing. 

Company Quote

-0.0050 -1.28%
27 Feb 2015