Toronto-listed Placer Dome can earn up to a 60% interest in Breakwater Resources’ (TSE) East Amphi gold project near Malartic, Que.
Breakwater has defined a drill-indicated mineral inventory of 866,188 tonnes averaging 10.38 grams gold per tonne. One intersection, hosted within a mineralized schist, had a weighted average grade of 2.44 grams over a true width of 70.6 metres.
Placer can earn a 51% interest by spending $4.5 million
on exploration and paying $500,000 over four years. It can earn another 9% by spending an additional $4 million on exploration and development by Oct. 1, 2000.
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