Laurentian Goldfields Ltd. (CVE:LGF) announced that it has acquired the Thundercloud gold property (“Thundercloud”), 50 kilometres southeast of Dryden, Ontario, from Teck Resources(NYSE:TCK).
The press release is quoted as saying:
Laurentian intends to complete a 2011 exploration program on Thundercloud consisting of approximately 4000 metres of diamond drilling, coupled with a comprehensive surface program of rock and soil geochemical sampling and structural mapping, in order to better understand the nature and distribution of gold mineralization across the property. The objective of the program will be to expand the areas of known gold mineralization defined by Teck’s recent exploration success.
Andrew Brown, President and CEO of Laurentian Goldfields Ltd, said:
“In addition to the project’s compelling drill hole intercepts, the Thundercloud property remains largely unexplored. Its location is an excellent fit with Laurentian’s experience base in northwestern Ontario and management’s belief that the recent successes at Rainy River and Hammond Reef are a strong indication of the emerging gold potential of the western Wabigoon Subprovince