Drilling is scheduled on the former Buckingham mine property where encouraging gold values were obtained in 1988 in three parallel structures along a strike length of 500 ft.
The company is negotiating an underwriting of common and flow- through shares to finance its Shining Tree interests and provide working capital.
A recently completed private placement with Nanisivik Mines has raised $150,000 to finance Asquith’s 25% interest in the BB Lake zinc-precious metals property near Great Slave Lake, N.W.T.
A program comprising 12,000 ft of diamond drilling, geological and geophysical surveying is proposed by Ego Resources (TSE), operator of the BB Lake project.
Previous work on the property in the late 1940s and early 1950s partially outlined the presence of two bodies of massive sulphides known as the BB and Kennedy Lake respectively.
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