BMR Gold (TSE) and Jacqueline Gold (VSE) can acquire a 100% interest in a 5-sq.-mile placer gold property near Crescent Valley, Nev., according to a renogiated agreement.
The joint venture, 70% owned by BMR and 30% by Jacqueline, can buy the property by paying $1.45 million over 15 months, or $1.2 million if paid within 12 months. The purchase is payable in either cash or shares at the joint venture’s option.
Previous work outlined an estimated two million cu. yds. of placer gravel grading about 0.027 oz. gold per cu. yd. A work program is planned to outline an additional two million cu. yds. of material which would be sufficient to support a 5,000-cu.-yd.-per-day operation.
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