A preliminary option agreement sets the stage for
To exercise the option, Redstar must spend $1.25 million on exploration by the end of 2000 and make payments totalling $222,000 to
This can be increased to 60% by funding a feasibility study.
The road-accessible property is in the Tintina gold belt and was explored intermittently by previous operators, first for tungsten and tin, and more recently for gold. The property has seen placer mining activity and, in recent years, yielded the most elevated gold, arsenic and antimony values in the Yukon portion of the Tintina gold belt. Redstar proposes a $500,000 work program this year for the property, which is viewed as being prospective for bulk-tonnage gold deposits.
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