Kinross earns 70% stake in Laguna in Snow Lake

Rockliff, which retains a 30% participating interest in Laguna, reported that Kinross had earned its interest by spending C$5.5-million before the third anniversary of the six-year option agreement.

“Having Kinross earn in so early on their option to the level of forming a joint venture on the Laguna property confirms out belief of the high gold prospectivity of this land package,” commented Rockwell president and CEO Alistair Ross.

Laguna is located in the Flin Flon-Snow Lake greenstone belt. The property hosts the historic Rex-Laguna gold mine – Manitoba’s first and highest-grade former gold mine. Discovered in 1914, periodic gold mining up to 1940 produced more than 60 000 oz of gold with an average grade of 16.7 g/t.

Since 2018, Kinross had completed 48 holes totalling 16 470 m.