An exploration project is changing hands. A Toronto based junior gold exploration and development company Alexandria Minerals Corporation reports the security holders of Murgor Resources which has interests in the Flin Flon Snow Lake area voted in favor of the Acquisition of Murgor by Alexandria. The effective date of the arrangement is expected to be March 10th.
Alexandria President Eric Owens says one of the early goals with the newly acquired assets will be an updated resource estimate for both the Hudvam and Wim copper, gold, zinc, silver deposits in the Flin Flon Snow Lake area as the resources estimated for those projects were last completed in 2008 at much lower metal prices. He adds combination of the two companies each with significant mineral resources will lead to a substantial increase in mineral resources for the combined company and this increase will occur at a substantially lower cost than equivalent exploration.