12:01 PM EST, 12/16/2024 (MT Newswires) -- Canadian Gold Resource (CAN.V) on Monday said it expanded its Lac Arsenault property with the addition of 64 new claims, increasing its size by 36.62 square kilometers.

The company said the acquisition targets key structural features associated with high-grade epithermal gold and silver mineralization and added that new claims encompass additional interlinking fault zones, providing excellent targets for further exploration.

"We believe these faults, part of the Grand Pabos and Riviere Garin systems, form dilational zones that create favorable conditions for gold and silver deposition similar to the Baker and Mersereau vein systems within our newly staked claims. These types of structures are well-known for hosting high-grade mineralization," said Canadian Gold Resources Geologist Mark Smethurst.

Shares of the company were last seen down $0.02, or 3.3%, at $0.58 on the TSX Venture Exchange.

Price: 0.58, Change: -0.02, Percent Change: -3.33