TimGinn Property
General
The Timginn property consists of 9 mining claims covering 238 hectares (588 acres) in the Tisdale Township in Central Timmins which hosts the favourable gold mineralized horizon known as the 95/63 contact which trends onto the adjacent Hollinger Mine (19.3 million oz), McIntyre Mine (10.7 million oz) and Moneta Mine (150,000 oz) please see map below. There was brief production on the property during the 1920’s by the Consolidated Gilles Lake Gold Mine which produced 15,000 ounces of gold and was an extension of the Hollinger ore zone. A two compartment shaft was sunk on the property to a depth of 940 feet
Exploration Plan
Company management has identified two initial areas for exploration drilling on the favorable gold mineralized 95/63 flow contact horizon. - Historic records indicate good gold mineralization on the property close to where Hollinger Mine workings are situated up to and adjacent to the property boundary near the historic mine shaft situated mid way along the 2,000 meter length of the property.
- Historic records indicate near surface gold mineralization on the north eastern part of the property where the 95/63 horizon is situated before trending onto McIntyre Mine property where the horizon is reported to have generated significant gold production.
Option
On November 7, 2011, McLaren entered into an Option agreement whereby it can earn a 60% interest in the Timginn property by incurring a minimum of $4 Million dollars in exploration expenditures Terms
Spend $200,000 on exploration during the due diligence period with drilling to commence by December 2011, with results supporting a decision to move to the next option period by April 30, 2012. Spend a further $500,000 on exploration by April 30, 2013. Spend an additional $600,000 on exploration by April 30, 2014. Spend an additional $700,000 on exploration by April 30, 2015 for an aggregate total of $2,000,000 to earn a 50% interest in the property. McLaren can earn as a second option an additional 10 percent interest by spending a further $2 million in exploration expenditure by April 30, 2016.
Latest News
February 13, 2012
McLaren Drills 7.0 Grams Gold Over 7.4 Metres At The Timginn Property Located Adjacent To The Hollinger Mine
McLaren Drills 7.0 Grams Gold Over 7.4 Metres At The Timginn Property Located Adjacent To The Hollinger Mine
December 16, 2011
McLaren Raises Funds And Commences Drilling
McLaren Raises Funds And Commences Drilling
November 08, 2011
McLaren Options Exploration Property Adjacent to Hollinger and McIntyre Mines Timmins, Ontario, Canada
McLaren Options Exploration Property Adjacent to Hollinger and McIntyre Mines Timmins, Ontario, Canada
