McLaren Resources Inc. Commences Exploration Program on Blue Quartz Property, Timmins, Ontario
23.12.2010 | Marketwire
TORONTO, ONTARIO -- (Marketwire - Dec. 23, 2010) - McLaren Resources Inc. (CNSX: MCL) (FRANKFURT: 3ML) ("McLaren" or the "Company") is pleased to announce that the company has commenced with its exploration program on the Blue Quartz property. The purpose of the work program is to test for further gold mineralization both along strike and to depth below the underground workings of the Blue Quartz Mine which is situated on the Painkiller Lake fault.McLaren has an exploration team based in Timmins, which has extensive experience on Canadian Shield hosted gold deposits. The drilling is being carried out by Norex Drilling of Porcupine Ontario. The company plans on providing further work program updates in the New Year.
The Blue Quartz property is located in the gold producing area 70 km east of Timmins where several current and past producing mines are located. The property is reported to have produced gold from high grade veins during the 1920s and 30s. The property consists of 25 patented mining claims, covering 400 hectares situated on gold mineralized geological structures within the Abitibi Greenstone Belt located in the north central part of Beatty Township. The property is approximately 8 kilometers northwest of the producing Black Fox Mine, 12 kilometers northwest of the producing Hislop Mine and 14 kilometers northwest of the former producing Ross Mine.
The Company also announces that it has granted 375,000 options exercisable at price of $0.20 per share, expiring December 15, 2015.
McLaren Resources Inc. is a Canadian based junior exploration company engaged in the exploration of mineral properties with a focus on gold in Canada.
For more information visit our web site at www.mclarenresources.com.
Certain statements contained in this press release constitute "forward looking statements". These statements are based on current expectations of management, however are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. The Company does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
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