Vancouver-based Brascan Gold and its subsid-iary Baie Verte Resources have together entered into a letter of intent with Quinlan Prospector’s Group in relation to seven prospective gold properties in the Province of Newfoundland, Canada.
The properties “cover a total of 13,125 hectares spread broadly across Newfoundland. Brascan’s current stable of five … gold prop-erties are identified in gold in the below image and are focused in northern Newfoundland in the Baie Verte area,” Brascan Gold said in a statement.
Balbir Johal, the chief executive and director of Brascan Gold, said that his company was determined to build “a large portfolio of gold properties, carefully selected across Newfoundland. The Company has hired Full Circle Drilling Inc. to begin several drilling programs in the coming months” and “with a major exploration program underway at the Alegre Gold project in Brazil and several exploration programs starting in Newfoundland, Brascan is poised for success.”