The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Some long-explored gold property near Snow Lake is getting a fresh look from a capital pool company. Doca Capital Corp. has signed option agreements through which it may gain full interest in the Wekusko and Ferro Mine properties. Both properties are located some 23 kilometres southeast of Snow Lake. For Wekusko, Doca has signed an option agreement, dated effective Feb. 6, with Strider Resources. Doca may be granted an option to earn a 100 per cent undivided interest in the property. For Ferro Mine, Doca has signed an option agreement, also dated effective Feb. 6, with Strider and Cangame Corp. Doca may be granted an option to earn a 100 per cent undivided interest in that property as well. The Wekusko property is made up of 55 mineral claims totaling some 8,880 hectares. The Ferro Mine property comprises three mineral claims totaling about 60 hectares. Upon completion of the proposed transaction, Doca says it expects to be a tier 2 mineral exploration issuer. Conditions But the proposed transaction is subject to several conditions, including approval by the TSX and Doca receiving a guideline-compliant mineral report on the properties. Doca said gold exploration and development work performed on the properties over the last 70 years includes surface geological, geochemical and geophysical surveys, diamond drilling and underground development. The work has been successful in identifying 'significant gold mineralization at several locations,' although no significant production has occurred, the company said. Doca said the east side of Wekusko Lake, where the properties are located, has a number of relatively small tonnage, high-grade gold deposits. These include the Rex-Laguna mine, which operated intermittently from 1924-1940 with a recorded production of 58,962 ounces of gold, some 700 metres west of the properties. The west side of Wekusko Lake contains the much larger New Britannia (Nor-Acme) deposit, which to date has produced 1.43 million ounces of gold. In addition, Doca said, a number of smaller gold deposits are present in the immediate area surrounding New Britannia. However, information relating to adjacent properties has not been verified by Doca and is not necessarily indicative of the mineralization on the properties. Trading in Doca's shares has been halted pending satisfaction of the conditions to the proposed transaction. Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of information supplied by Doca. _ Compiled from a Doca Capital Corp. news release
