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Margaux secures option on Old Timer gold property in British Columbia

Margaux Resources Ltd. said Jan. 15 that it signed an option deal with a third party for the Old Timer gold property in southern British Columbia.

The property, comprising 16 claims over 1,790 hectares, hosts several known gold-bearing veins and is located 10 kilometers north of the company's Jackpot zinc property

Margaux is required to pay a total of C$50,000 and issue 500,000 shares in stages over a four-year period, as part of the agreement.

The company plans to compile historic property data over the coming months and expects to make the property drill ready this year.