Affinity Metals Options Discovery Lake Gold Property in Ontario

The latest announcement is out from Affinity Metals ( (TSE:AFF) ).

Affinity Metals Corp. has moved to expand its gold exploration footprint by securing an option to acquire a 100% interest in the Discovery Lake property near Sioux Lookout, Ontario. The more than 2,500-hectare land package sits within the Abram-Minnitaki Lake Greenstone Belt, a prolific and active high-grade gold region that is also prospective for base metals.

The property is located next to Heritage Mining’s Drayton-Black Lake project, where recent drilling has intersected a broad zone of gold mineralization in a robust quartz vein system. Under the three-year option agreement with a private company owned by Perry English, Affinity Metals will pay $64,000 and issue 200,000 shares, while the optionor retains a net smelter returns royalty that Affinity can partially buy down, positioning the company for a potential new gold exploration hub alongside its existing silver asset in British Columbia.

More about Affinity Metals

Affinity Metals Corp. is a North American-focused mineral exploration company specializing in the acquisition, exploration and development of strategic metal deposits. The company currently holds the 100%-owned Regal high-grade silver property near Revelstoke, British Columbia, and targets prolific mining regions with strong potential for precious and base metals discoveries.

YTD Price Performance: 75.00%

Average Trading Volume: 44,225

Technical Sentiment Signal: Buy

Current Market Cap: C$4.61M

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