Nov 29 2013
Mazorro Resources Inc. is pleased to announce that it has entered into an asset purchase agreement for the acquisition of a 100% interest in a total of 81 claims covering approximately 4,300 hectares in the Monster Lake area, in northwestern Quebec.
The Monster Lake area is located in northwestern Quebec, approximately 44 kilometres southwest of the town of Chibougamau. The property is easily accessible by road and a high-voltage power line crosses the area nearby. The claims acquired comprise two blocks: one block comprising 40 claims is located immediately to the west and contiguous to TomaGold Corp.'s Monster Lake property and the second block comprising 41 claims is located to the southeast of TomaGold's property and adjoins various other land holdings in the area.
Since 1984, over 40,000 metres of diamond drilling has been completed by various operators along the over four-kilometre mineralized corridor at the Monster Lake area. In the winter of 2012, TomaGold drilled 16 holes for a total of 2,420 metres on the Annie zone, which resulted in a major discovery of 237.6 grams per tonne of gold over 5.7 metres in hole M-12-60. In 2013, TomaGold drilled 12 holes totalling 5,000 metres on zone 325. All the holes intersected the gold-bearing structure, and seven of the 12 holes returned values of over 10 grams per tonne of gold. TomaGold recently announced a significant option agreement with Iamgold Corp. valued at over $17.5 million whereby Iamgold can earn a 50% interest in TomaGold's Monster Lake and other properties (see TomaGold press release dated November 12, 2013).
"With this acquisition, Mazorro has secured two strategically located claim blocks within the emerging Monster Lake gold camp. Mazorro looks forward to evaluating the significant exploration potential for gold at these new properties," stated André Audet, President and CEO of Mazorro.
Source: http://www.mazorro.com/