Echo Bay snaps up Kilgore remains

Echo Bay Mines (ECO-T) will acquire from Placer Dome (PDG-T) the remaining interest in the Kilgore gold project that it does not already own. Situated in southern Idaho, the project is already owned 51% by the Colorado-based company.

The deal requires that Echo Bay trade the 4.2 million shares it holds in Etruscan Enterprises (EET-V) to Placer Dome for the 49% interest in Kilgore, plus US$8 million.

The Kilgore project covers 11,460 acres in southeastern Idaho, near the Montana border. Mineralization is hosted in silicified Tertiary volcanic rocks.