Lakeland Resources' (TSXV:LK) (Frankfurt:6LL) J-V Partner Receives Permit to Begin Drilling on Midas Gold Property - Video News Alert on Investmentpitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, November 4, 2013 - Lakeland Resources (TSXV:LK)
(Frankfurt:6LL) announced that its joint-venture partner New Dimension Resources
(TSXV:NDR) has received the necessary permits to begin a minimum 1,800-metre
diamond drill program on the company's Midas Gold Property.
InvestmentPitch.com has produced a "video news alert" based on this news. If
this link is not enabled, please visit www.InvestmentPitch.com and enter
"Lakeland" in the search box.
The Midas Gold Property, located approximately 50 kilometres northeast of the
town of Wawa, in north central Ontario, consists of 12 staked claims covering
2,112 hectares.
The drilling program is being funded 100% by New Dimension, who has an option to
earn up to a 70% interest by:
* spending $1.2 million in exploration expenditures
* issuing 1.5 million shares of New Dimension, and
* paying $100,000 to Lakeland on or before December 31, 2016.
Lakeland will then be carried at no cost with its remaining 30% interest until
New Dimension completes an initial NI 43-101 resource estimate for the Property.
Previous drilling identified a broad gold-bearing structure, which can be traced
for over 500 metres in strike length, with gold mineralization remaining open on
strike and down dip.
The property is road accessible and lies 20 kilometres southeast of Richmond
Mines' Island Gold Mine complex and Argonaut Gold's Magino Gold Project, which
Argonaut acquired upon taking over Prodigy Gold for approximately $350 million.
Lakeland has turned its attention to uranium, with the Company's 100%-owned Riou
Lake Uranium Property located along the northern rim of the Athabasca Basin,
Saskatchewan; home to some of the worlds' largest and richest high-grade uranium
deposits.
Lakeland currently trades at $0.10 and with 32.7 million shares outstanding, is
capitalized at $3.3 million.
For a more information, please visit the company`s website at
www.lakelandresources.com, or phone Roger Leschuk, corporate communications, at
604-681-1568, or email roger(at)lakelandresources.com.
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Datum: 04.11.2013 - 15:59 Uhr
Sprache: Deutsch
News-ID 312411
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