Lund Acquires the Don-Don Property in Northern B.C.
2009年9月18日 - 6:22AM
Marketwired
Lund Gold Ltd. (TSX VENTURE: LGD) is pleased to report that it has,
subject to regulatory approval, been granted the sole and exclusive
option to acquire a 100% interest in sixteen claims covering 6,105
hectares located in the Omineca Mining Division, Province of
British Columbia, known as the Don-Don Property.
The Don-Don Property is contiguous with claims belonging to
Lysander Gold's "Pinchi Project" which have been recently optioned
by Amarc Resources. The Don-Don Property covers a portion of the
Pinchi fault contact with the Duckling Creek syenitic phase of the
Hogen Batholith where alkalic porphyry copper-gold mineralization
has been found to be associated with the Duckling Creek intrusive
phases of the Hogen Batholith locally. A large IP target occurs on
the adjacent Lysander ground and is open to the west onto the
Don-Don Property which also hosts two large prominent EM airborne
anomalies.
The Northern Quesnel Trough area is very active with numerous
companies exploring for porphyry style copper-gold mineralization,
including work in the north around Kemess and locally at the
Lorraine property and to the south at Serengeti Resources Kwanika
property and at Mt Milligan. Lund plans to begin geophysical work
shortly with a view to generating drill targets as soon as
possible.
In order to exercise its option, Lund must pay the vendors a
total of $203,000 over four years, issue a total of 650,000 shares
of Lund over five years and incur exploration expenditures
totalling $575,000 over four years. The Vendors will retain a
royalty equal to 3% of net smelter returns, with Lund having the
right to purchase, at any time, one third of the royalty (being
equal to one percent (1%) of net smelter returns) by paying the
vendors the sum of CAD$2,000,000.
To find out more about Lund Gold Ltd. (TSX VENTURE: LGD), visit
our website at www.lundgold.com.
On behalf of the Board of Directors of LUND GOLD LTD.
Chet Idziszek, President
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Lund Gold Ltd. David Scott Investor Relations (604)
331-8772 (604) 331-8773 (FAX) dscott@mine-tech.com
www.lundgold.com
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