Drills are turning at Montreal-listed Minorca Resources’ Rodeo Creek property in Nevada’s Carlin trend.
The main target of the 4,000-ft. program is a fault structure which crosses a well-known gold feeder system. The area exhibits a strong alteration halo coincident with anomalous concentrations of gold, arsenic and antimony. The structure has been traced over a strike length of 3,500 ft.
To fund the drill program, Minorca sold its 29% interest in the Battle Creek oil and gas pool for $1.3 million. It also raised $3.2 million in a private placement of 5 million special warrants.