Cambria Gold Mines announces expansion of claim package at US deposit
TSX-V-listed Cambria Gold Mines has completed the additional claim staking at the Mt Margaret copper/gold porphyry deposit near Randle, Washington, in the US.
The new staking consists of about 7 km2 of unpatented lode claims surrounding the company's patented federal claims.
The patented claims are held in partnership with the US federal government’s Bureau of Land Management.
The company says it has been advancing discussions with various US federal government departments about the future direction for the deposit.
"The Mt Margaret deposit is a significant copper/gold porphyry system.
"With a mineralised footprint starting at surface and spanning over 1 km2 with multiple drill holes ending in mineralisation over 400 m below surface, this deposit has the potential to be one of the most significant undeveloped copper deposits in the US,” says Cambria president and CEO Robert McLeod.
“It is our intention to spin this asset out into a new US-focused listed entity in the near future,” he adds.
Cambria, previously Ascot Resources, is a Canadian mining company and is the 100% owner of the Premier Gold mine and Red Mountain gold project that are located on Nisga'a Nation Treaty Lands, in the prolific Golden Triangle of north-western British Columbia.
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