Trillium Gold Mines (TSXV: TGM) this morning issued a brief news release, indicating that the company has completed the acquisition of its Gold Centre property. The property was acquired from that of Rupert Resources.
The transaction saw Trillium acquire an 80% stake in the notable property, which is located immediately adjacent to and along strike of Evolution Mining’s Campbell-Red Lake Mine. Evolution is currently exploring less than 300 metres from the property line of the Gold Centre property, at depth.
The company currently intends to drill the property in the near term, having announced earlier this month that is has received drill permits for the property. A combination of holes targeting the shallow sulphide-mineralization as well as deeper drilling targeting high grade zones is currently planned for the property.
The property was acquired in exchange for the issuance of 500,000 common shares of the company, which are subject to a four month hold.
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Trillium Gold Mines last traded at $1.48 on the TSX Venture.
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