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EGR Expands Detour West Property, Detour-Fenelon Gold Trend, Ontario
(TheNewswire) Vancouver, BC - TheNewswire - February 27, 2023 - EGR Exp...
About this update from Egr Exploration Ltd
[{"type":"text","content":"EGR Expands Detour West Property, Detour-Fenelon Gold Trend, Ontario\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC\n \n \n -\n \n \n TheNewswire -\n \n \n February 27,\n2023\n \n \n -\n \n \n EGR Exploration Ltd.\n \n \n (TSXV:EGR)\n \n (\"\n \n EGR\n \n \" or the \"\n \n Company\n \n \") is pleased to\nannounce that it has acquired an additional 50 claims in Detour Lake\nArea increasing the Company's land holdings to 40,255 ha. The Company\nwould also like to provide a Detour West property exploration plan\nupdate.\n \n \n \n \n \n \n \n Property Acquisition\n \n \n \n The 50 claims acquired are located within EGR's Detour West property,\nwhich consolidates the entire area (\n \n see Fig.1\n \n ). EGR’s interpretation of the existing magnetics\ndata over the newly acquired claims shows the potential for\nsegments of the Sunday Lake Deformation Zone [SDLZ], Massicotte\nDeformation Zone [MDZ], and secondary splays from them, to extend onto\nthe property.\n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n (Fig 1. Indicative location of the\nnew claims and interpreted deformation zones)\n \n \n \n Under the terms of the acquisition agreement, EGR paid the Vendor\n$2,450 in cash and granted a 1.25% Net Smelter Return (NSR) under the\nterms of a Royalty Agreement. The Royalty Agreement also\n \n contains a provision that allows for a reducti\n \n \n \n \n on of the Royalty Interest\nto 0.75% by making a payment of $250,000 to the Vendor at any time\nbefore the property reaches commercial production.\n \n \n \n \n Exploration Plan\n \n \n - Detour West Exploration Plan - Detour\nWest\n \n \n \n \n The geological team has spent the last two months\nconsolidating and compiling data regarding the Detour West property\nand defining work programs for 2023 and 2024.\n \n \n \n \n Spring/Summer 2023\n \n \n \n \n \n \n Flying high-resolution airborne magnetics this spring\nto cover the entire eastern two-thirds of the property, filling in\nareas not covered by prior smaller, targeted airborne magnetics\nsurveys (\n \n \n See Fig.\n2\n \n \n ). The new data will be used to refine targets\nfor EGR's current and future drill plans.\n \n \n \n \n \n \n Summer 2023\n \n \n \n \n \n \n A field program will be implemented to follow up on a\nprevious Lidar survey, investigate outcro...