TomaGold Corporation (V.LOT) is pleased to report the signing of an agreement with Skyharbour Resources Ltd (“Skyharbour”) to acquire Skyharbour’s interest in the Baird property in exchange for 600,000 shares of the Corporation. As a result, TomaGold will hold a 24.5% interest in the property, with New Gold Inc. holding a 24.5% interest and Goldcorp Inc., as operator, owning the remaining 51% interest. The property is currently subject to a 2.0% net smelter return.
The Baird property lies in the central Red Lake gold belt six kilometres north of the Madsen Mine and fourteen kilometres southwest of the Goldcorp Red Lake Mine. The property lies within the highly prospective Balmer assemblage of volcanic rocks and exhibits structural and alteration systems typical of the Goldcorp Red Lake and Campbell mines. read more