Business
McLaren Updates on TimGinn Drilling Program near Hollinger Mine, Timmins, Ontario
Toronto, Ontario--(Newsfile Corp. - March 14, 2018) - McLaren Resources Inc. (CSE: MCL) (FSE: 3ML) (OTC: MLRNF) ("McLaren" / the "Company") announces that drill
About this update from Mclaren Resources, Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - March 14, 2018) - McLaren Resources Inc. (CSE: MCL) (FSE: 3ML) (OTC: MLRNF) (\"McLaren\" / the \"Company\") announces that drilling has commenced on the TimGinn Property to target gold zones which trend from the former producing Gilles Lake Mine towards the Hollinger Mine operated by Goldcorp. The Gold Zones to be explored on the TimGinn Property are projected to cross the property boundary and trend towards and below the Hollinger Open Pit Mine.The Company also announces that 750,000 options have been granted to officers, directors and consultants. Each option entitles the holder to purchase one common share in the capital of the Company at an exercise price of $0.15 per share. 625,000 options granted have a term of three years and 125,000 options have a term of five years from the date of issuance.About the TimGinn propertyThe TimGinn Property consists of nine patented mining claims covering 238 hectares in Tisdale Township, Central Timmins that lie between the Hollinger Mine (19.3 million oz) and the McIntyre Mine (10.7 million oz). Gold production took place on the TimGinn Property during the 1920's from a 940 foot deep shaft at the Gilles Lake Gold Mine.The information presented in this news release has been reviewed and approved for release by Kenneth Guy, P.Geo, the Qualified Person for McLaren for exploration on the TimGinn Gold Property, as defined by National Instrument 43-101 \"Standards of Disclosure for Mineral Projects\".About McLaren McLaren is focused on exploration work on its three gold properties which are located in the Timmins Gold District of Northeastern Ontario. These properties include, the TimGinn Property (described above), the Augdome Property and the Blue Quartz Property. The Augdome Property, which consists of 414-hectares is located in Tisdale and Whitney Townships adjacent to the Dome Mine operated by Goldcorp. The Blue Quartz Property, which hosts the former Blue Quartz Mine, consists of 25 patented mining claims and 8 crown claims covering a total of 640 hectares in Beatty Township and is located 10 km north of McEwen Mining's Black Fox Mine in East Timmins. In addition to the exploration properties, the Company has recently created a new blockchain development project which is to be operated in a new subsidiary corporation. During 2018, McLaren intends to con...