Allegheny options gold properties

Allegheny Mines (ASE) has optioned two gold prospects, thereby adding to its properties near Atikokan, Ont.

The Olcott and Eagle properties were optioned for cash payments of $85,000 and $10,000 each and are subject to net smelter return payments of 2% and 2.5%, respectively. Work comitments on both total $500,000 over five years. Allegheny holds four contiguous blocks totaling 522 claims. These include the Lindsay Mines property, which contains 528,614 tons grading 0.31 oz. gold per ton.