A Toronto gold explorer believes there are more ounces to be found at a former mine property in the Sudbury mining district.
Conquest Resources announced Dec. 7 that it has acquired the former Golden Rose gold mine at Emerald Lake, an 85-kilometre drive north from Sturgeon Falls.
The company said it received approval in early December from the shareholders of Northern Nickel Mining to acquire all of the shares of Northern Nickel.
With the transaction comes the Golden Rose Property and the past producing mine on 770 hectares of land in Afton and Scholes townships.
The mine produced 52,000 ounces of gold and 8,300 ounces of silver over a sporadic operating life between 1915 and 1988.
Conquest contends the gold potential has not been exhausted at the mine site and there may be new deposits waiting to be discovered on the property.
The company is cashing up for a winter and spring exploration program through a recently launched private placement financing of up to $525,000, of which $350,000 is earmarked for exploration at Golden Rose.
The mine's infrastructure includes seven levels of access and a 1,400-metre access ramp which nearly goes to the bottom of the mine.
"The company is very pleased to an nounce that all shareholders of Northern Nickel have voted in favour of the...