McLaren Resources Sees Phase One Program At McCool Completed
The first phase of exploration on the McCool property has been completed by McLaren Resources (CSE: MCL). The program saw the initial exploration conducted by the company on the property since it acquired it in 2020 via a transaction with Newmont Gold.
The first phase of exploration at the property consisted of line cutting across 13 kilometres, as well as IP and ground magnetic geophysical surveys. The surveys were conducted over what the company views as the most favourable exploration target on the property, which resides overtop the Centre Hill Fault.
The Centre Hill Fault is known to host significant gold mineralization on the property, and is viewed as being a splay off of the Destor-Porcupine Deformation Zone, a major fault that hosts many deposits in the region. Several IP and ground magnetic anomalies were identified along with fault, which are known to be associated with gold occurrences in the region.
Once a detail interpretation of the results is received by the company, the firm intends to proceed with a diamond drill program on the property which will see up to ten holes drilled. Drilling is to be focused on the Centre Hill Fault, as the company looks to further evaluate mineralization on the property.
McLaren Resources last traded at $0.06 on the CSE.
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