QUEBEC CAMPBELL RESOURCES has sold its 100% interest in the Bachelor Lake gold mine to METANOR RESOURCES of Val d’Or. Metanor has agreed to pay $2.3 million for the former producer.
WOLFDEN RESOURCES has an option to earn a 50% interest in the Bachelor Lake property by spending $3 million on exploration.
The Bachelor Lake mine was opened in 1982 and closed in 1989; it was allowed to flood three years later. There is a 500-ton/day mill and tailings pond at the site. The property is estimated to contain an undiluted measured resource of 204,454 tons averaging 0.257 oz/ton Au and an indicated resource of 216,685 tons at 0.315 oz/ton Au. The figure for inferred resources is given as 256,285 tons at 0.304 oz/ton Au.
Learn more about the new owner at www.metanor.ca.