- Harfang Exploration has officially acquired 100 per cent interest in the Egan Gold Property in Ontario
- The project is in the province’s Abitibi gold camp close to mining operations in Timmins, Kirkland Lake and Matachewan
- The company exercised its option through a combination of cash and shares
- Shares of Harfang Exploration are up 3.45 per cent to C$0.15 as of 11:23 am ET
Harfang Exploration (TSXV:HAR) has officially acquired its 100 per cent interest in the Egan Gold Property in Ontario.
In a news release, the Montreal-based company stated it exercised its option to acquire the property through a combination of cash and shares.
Harfang Exploration previously signed an option agreement and an amendment in August 2020 and August 2022 respectively. The payment was divided into the final cash payment of $170,000 into two separate installments of $85,000 each, with the final payment made on Feb. 5, 2024.
Located in Ontario’s Abitibti gold camp, the Egan Gold Property is close to mining operations in Timmins, Kirkland Lake and Matachewan.
“We are pleased to proceed with the acquisition of a 100 per cent interest in Egan,” Rick Breger, CEO of Harfang Exploration, said in a statement. “From the beginning, it has delivered solid results from our exploration campaigns with numerous targets to follow up on. We are particularly intrigued by the delineation of a large, gold-in-soil anomaly south of the E1 high-grade gold occurrence, adding another high-priority target, as well as the E1 South discovery that returned an altered syenite grab sample assaying 25 g/t gold.”
The property was initially optioned on the discovery of the E1 Zone where a northeast-trending shear zone has been exposed with a well-developed stockwork of quartz veins hosted in syenite.
Meanwhile, the E2 Zone consists of a series of easterly trending, laminated quartz veins hosted in mafic volcanic rocks near the contact with the Bradley Lake syenite.
Harfang Exploration is a mineral exploration company with a range of projects under its belt including Serpent-Radisson, Egan, Lake Menarik, Menarik East, Blakelock, The Pass, Pontax and others.
Shares of Harfang Exploration are up 3.45 per cent to C$0.15 as of 11:23 am ET.
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