Teck Kirkland purchase OPW has made its first commitment of the funds it will have available if it sells some of the SGR shares -- the Teck Kirkland claims from Hinterland Metals.
Hinterland's most recent MDA (as at June 30, 2012) sets out a summary of its Teck project:
Teck Gold Project, Ontario
The 1,263ha Teck property is located approximately 4km west of Kirkland Lake, Ontario. The property
was assembled through nine different option agreements for patented mineral claims and additional
staking of crown land.
The prolific Kirkland Lake Gold Camp has documented production of 24.1 Million ounces gold at an
average grade of 16.1gpt gold from eight mines during the period from 1917 to the present day. All of
these mines are located in Teck Township and are related to major structural breaks cutting Timiskaming
Group sediments and volcanics. Syenite and syenite porphyry intrusions are known to be spatially
related to the gold mineralization. The “Main Break” is historically the most important structural feature
related to gold mineralization. The Teck property is located within Teck and Grenfell townships
approximately 2.5km west of the Macassa #3 shaft. The Macassa Mine is the westernmost of the
Kirkland Lake Gold Camp mines and is the only one still producing. The property is underlain by
Timiskaming Group sediments and volcanics and covers approximately 1.6km of the productive Main
Break as well as several other structures. Syenite and syenite porphyry intrusions occur on the property.
To date Hinterland has completed 2,483m of drilling in 18 holes. None of the holes have returned any
notable gold intersections although numerous favourable intervals of quartz-carbonate veining and
mineralization were encountered. The Teck property is on the western edge of the Kirkland Lake Gold
Camp and so it is to be expected that any significant gold mineralization will be located at depth rather
than on surface. The Company is seeking to vend the Teck property in order to concentrate its
exploration efforts entirely in Quebec.
(emphasis added)
I don't know about the rest of you, but I don't feel any excitement about this acquisition. I hope there's more to this project than meets the eye, cause it rather sounds like a lot of moose pasture to me.