Drilling is scheduled to begin this month at Battle Mountain Gold’s (TSE) Fullstop property in Queensland, Australia. The company has the right to earn a 51% interest in the 105 sq m property for an expenditure of $2 million over five years.
The property is held under option from Epithermal Gold, an Australian company. The upcoming program will focus on widespread occurrences of epithermal gold-bearing quartz veins and Battle Mountain will manage the project.
Also in Queensland, the company has entered into a joint venture agreement with Ravenswood Resources on a project comprising approximately 30 sq m of the Charters Towers mining belt.
Several promising gold prospects exist on the property which have been worked in the past. Battle Mountain can earn a 60% interest for an expenditure of $1.2 million over a 4-year period. A trenching and drilling program is under way.
The company’s international exploration budget, which this year totals about $30 million, covers some 86 project areas and 13 joint ventures. This year’s budget is three times that of 1985, the company notes.
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