Welcome to Marshall Lake Mining PLC
Marshall Lake Mining plc held a 50% interest in the Marshall Lake Copper Zinc deposit with its partner company Rainy Mountain Royalty Corp.
The approximately 50 square mile property is located 310 kilometers north of Thunder Bay, Ontario, Canada.
Marshall Lake is being expanded based on near surface mineralization with emphasis on nine previously identified prospective zones.
A series of high grade near surface Copper Zinc discoveries have been made on the property. There is a current focus to develop these with the aim of building up a commercial ore resource.
Incoming partner White Tiger Mining Corporation (TSX-V:WTC) has the option to earn an initial 50% interest in the Marshall Lake project by spending C$4 million in exploration expenditures over 5 years with an option to raise this to 75% by taking the project to bankable feasibility. White Tiger has now spent in excess of C$1m of the C$4m earn in to achieve its 50% ownership.
At bankable feasibility the ownership would be White Tiger 75%, Marshall Lake Mining plc 12.5% and Rainy Mountain 12.5% subject to White Tiger funding costs to bankable feasibility with no liability to either Marshall Lake Mining plc or Rainy Mountain.
Marshall Lake Mining plc also has an interest in Bullabulling Gold Limited (ASX:BAB, AIM:BGL), an ASX listed publicly quoted mining development and exploration company. BAB owns Bullabulling, a former open pit gold mine in the Coolgardie region, Western Australia which has over 3m oz of JORC compliant resources.
Last update: 15/04/16 14:06:35