Gold and copper major Barrick has signed an agreement to earn a 75% interest in TSX-V-listed Midland Exploration’s Patris gold property, north-east of Rouyan-Noranda, Quebec. Barrick must make cash payments totalling C$1.02-million and exploration work totalling C$16.57-million over eight years to earn the 75% stake.
The major will be the operator of the work carried out under the transaction. “We are delighted to welcome Barrick as one of our new high-quality partners who will ensure the progress of future exploration work on this excellent gold project,” said CEO Gino Rodger. The wholly owned Patris project comprises 298 claims covering a surface area of about 117 km2, located less than 10 km northwest of the prolific Doyon/Westwood-Bousquet-La Ronde gold mining camp.
The Patris property offers excellent gold potential as it covers the Manneville Fault over more than 8 km and the La Pause Fault over more than 10 km, both recognized as subsidiary faults to the well-known Destor-Porcupine Fault Zone. Mineralization occurring at the Doyon/Westwood-Bousquet-La Ronde gold mines is not necessarily indicative of mineralization that may be found on the Patris property held by Midland
