https://www.northernontariobusiness.com/
Wallbridge eyes cross-border joint venture opportunity with Detour East option
Sudbury’s Wallbridge Mining has inked a term sheet to do a joint venture with Kirkland Lake Gold of its Detour East gold property in northwestern Quebec.
Under the agreement, Kirkland Lake Gold can earn a 75 per cent interest in Detour East by spending a total of $35 million on exploration at the property.
Detour East is an early exploration stage property, 11 kilometres east of Kirkland Lake Gold’s Detour Lake gold mine in northeastern Ontario.
The property was acquired by Wallbridge last March along with a stable of other properties as part of its acquisition of the assets of Balmoral Resources.
The transaction enlarged Wallbridge’s land holdings in Quebec from just over 10 square kilometres to almost 740 square kilometres. The deal was finalized in May.
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