Commodities Buzz: Coronet Metals Enters Into Agreement to Gain 100% Interest in Meguma Gold Belt

Coronet Metals announced this week that it has entered into an agreement to gain 100% interest in 3,888 mineral claims totalling over 62,000 hectares in the Meguma Gold Belt located in Nova Scotia, eastern Canada.

The company explained that the claims are adjacent and along trend from Atlantic Golds Touquoy disseminated open-pit gold deposit. On its website, Atlantic Gold states that, in this area, it has outlined a measured plus indicated resource of 10.1 million tonnes grading 1.5 gram per tonne for a total of 480,000 ounces of gold, plus an inferred resource of 1.6 million tonnes and 77,000 ounces of gold.

According to Coronet, its new claims were staked along the under-explored trends of known gold producing anticlinal structures. In the view of Coronets President, Theo van der Linde, the awakening of Nova Scotias gold fields is due to a recognition that an economic disseminated gold exploration and production model exists in the Meguma Gold Belt.