Argo Gold sees precious metal potential among the banded iron formations near Pickle Lake. The Toronto exploration company picked up 760 hectares of claims in a cash-and-share deal with Denison Mines, then staked some additional claims to create a land package of 7,982 hectares.
The property acquired from Denison Mines, known as the Talbot Lake Gold Project, is 60 kilometres northeast of the town of Pickle Lake.
In a June 11 news release, Argo said Talbot Lake has several unexplored iron formations containing quality gold targets and one partially-explored high grade vein-type gold deposit.
In the early 1980s, Dome Exploration identified banded iron formations in the Pickle Lake and Red Lake greenstone belts. Some of those targets spawned the Musselwhite and Dona Lake mines.
Prospecting back then revealed a high-grade gold quartz vein which became the focus of exploration. The vein was drilled to a depth of 200 metres.
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