EXPLORATION 1997 — Easton granted prospecting licence

The government of Angola recently awarded to Easton Minerals (EM-V) a base and precious metals prospecting licence in the Hula district.

The licence covers a large, layered anorthosite complex believed to be prospective for gold, nickel, copper, cobalt, vanadium, chromium and platinum. The area has some history of gold production and, in the 1960s, native platinum was reported to have been discovered in pan concentrates draining the area.

Easton says it is giving “particular importance” to the dark troctolitic anorthosites, which may bear similarities to rocks that host the Voisey’s Bay nickel-copper-cobalt deposit in Labrador.

Easton plans to acquire 70% of the property from a diamond company, which will retain the remaining 30% carried interest, for $150,000 (plus repayment of certain expenses), 1 million shares and 2 million warrants. The transaction is still subject to regulatory approval.