DRX holds about 1.9 million shares or 7% of Mount Burgess common shares and it intends to make a share exchange offer within the next few weeks.
In a separate development, Chairman Bob Clarke said DRX has agreed to option Quartz Mountain Gold’s (TSE) Number Nine property in Mariposa Cty., Calif. The agreement is predicated on DRX’s belief that reserves of 2.8 million tons grading 0.04 oz gold per ton can be doubled.
Quartz Mountain is based in Vancouver.
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