A recently completed deal with Plaskey Development Enterprises gives Aranlee Resources (VSE) the right to earn up to an 80% interest in the Fire Mountain property in the New Westminster Mining Division northeast of Vancouver, B.C.
Aranlee can earn the interest by making staged payments totalling $178,000, issuing 20,000 shares, and completing $655,000 in exploration over the next five years.
Preliminary exploration work outlined two areas with showings of gold-copper in vein systems as well as structurally controlled gold-lead-zinc mineralization.
Aranlee also announced that it will not proceed with the planned acquisition of Ashling Resources of Australia due to poor market conditions.
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