A recent letter of intent sets the stage for a wholly owned unit of Placer Dome (TSE) to earn up to a 70% working interest in Carlin Gold’s (ASE) Stockade Mountain gold property in Malheur Cty., Ore.
The 14-sq.-mile property is on a northwest-trending structure which, some geologists believe, may be the continuation of Nevada’s Carlin Trend. Carlin Gold notes that previous exploration on
its property returned encouraging results, with several drill holes encountering “ore-grade” mineralization.
Details of the transaction will be released once the joint venture agreement is formally executed.
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