A ground magnetic survey has begun on Blue Hill Capital’s (ASE) Athabasca No. 108 gold project to define possible drill targets.
The property, situated near Fort MacKay, Alta., is a crown mining lease comprising 160 acres on the east side of the Athabasca River. Blue Hill can earn a 60% interest in the property by issuing 100,000 free-trading Blue Hill shares, 1 million Blue Hill treasury shares and committing to spend $400,000 on exploration.
The company is negotiating for an additional 150,000 acres in the area.
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