Holmer acquiring Chevron interest

Holmer Gold Mines has agreed to acquire Chevron Minerals’ interest in the Bristol Twp. gold property near Timmins, Ont., for 400,000 shares of Holmer. The agreement is subject to regulatory approval. Chevron has been exploring the property since 1987 and has spent about $1.5 million on exploration. According to Holmer, three significant zones of gold mineralization have been outlined near a main zone which hosts about 440,000 tons averaging 0.15 oz. gold per ton. The junior company plans to review the previous exploration results and seek a new joint venture partner.