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Sunvest drops option on McKinnon Hemlo West property in Ontario

Sunvest Minerals Corp. terminated its proposed acquisition of the McKinnon Hemlo West gold property in Ontario, as it plans to focus on exploration in British Columbia's Golden Triangle region.

The company will issue 200,000 shares to the underlying owners as consideration for a full release from the option agreement.

Sunvest is set to kick off its work season in the Golden Triangle in June, CEO Mike England said in a March 13 release.

The company owns the Clone gold project, covering 10,688 hectares, in the region.