Affinity Metals to acquire Carscallen Extension project in Ontario

6.10.2020, 16:30 - eeppo

Affinity Metals (TSXV: AFF) announced that that it has entered into an option agreement to earn up to a 100% interest in the Carscallen Extension property located immediately adjacent to the Carscallen project in Ontario, Canada.

In a press release, Affinity Metals said Melkior Resources’ Carscallen property has gained considerable attention in recent months since Kirkland Lake Gold first entered into negotiations to join Melkior in advancing the property. 

Melkior Resources’ adjacent Carscallen property has gained attention since Kirkland Lake Gold entered into negotiations to join Melkior in advancing the property

“The confidence of a major producer like KL entering into an agreement of this size is very promising and shows the potential of this newly discovered gold system,” the media brief states. “The Carscallen hosts high-grade gold and has strong indications of a base metal volcanogenic massive sulphide (VMS) system. In a news release dated June 26th, 2020, Melkior reported that to date, they have delineated a potential 800m striking gold system running NW-SE through the Zam Zam and Shenkman Gold Zones that is also open in both directions. The Affinity Carscallen Extension property borders Melkior’s property to the north and is located on trend approximately 1000m NW of the presently defined gold system with similar underlying geology.”

According to the Vancouver-based miner, these indicators have led management to focus on the 940-hectare Carscallen Extension property instead of its West Timmins property. 

“We believe the Carscallen Extension to be the most prospective property within the immediate region associated with this exciting partnership project,” Rob Edwards, Affinity’s president and CEO, said in the release. “We very much appreciate the flexibility afforded us by the holders of the Timmins West and Carscallen Extension properties and for their confidence in Affinity in allowing us to secure the Carscallen Extension property and to shift focus and capitalize on the recent Kirkland Lake developments and associated potential.”