Olympic Resources announced Feb. 28 that it is acquiring two gold properties near Chapleau and is changing its name to Kapuskasing Gold.
The Vancouver-based junior miner is picking up the Borden North and Rollo gold properties in some prime exploration camps in northeastern Ontario.
Borden North is situated on the southern end of the Kapuskasing Structural Zone, 50 kilometres northeast of Probe Mines' Borden Gold project.
The Rollo is situated within the Destor-Porcupine Fault Zone, host to several million ounce-plus gold producers and sits between IAMGold's Cote Lake gold deposit and the Borden Gold project.
The company also announced the appointment of Garry Clark as exploration manager. He is well-known as the executive director of the Ontario Prospectors Association.
An advisory board is being formed to include veteran prospector Mike Tremblay, one of the Probe exploration team recognized for the 2013 Ontario Prospector Award for its Borden Gold Discovery.
Joining him on the board will be geologist Robert Duess, Balmoral Resources president-CEO Darin Wagner and Wayne Reid, the CEO and president of GTA Resources and Mining.
"The company is excited to have a renewed focus, acquiring a highly prospective series of assets in the midst of one of the fast growing gold plays in North America,” said company president-CEO Dean Nawata in a Feb. 28 statement.
“With the recent discoveries at Cote Lake to the east of us and Borden to the west we are focused on an area with tremendous potential to host large gold deposits like those in Timmins, Hemlo, Kirkland Lake, Red Lake for which Ontario is well known.”
