Senior directors of Continental Gold (TSE) are turning their attention to new opportunities now that Placer Dome (TSE) has confirmed an offer to buy all Continental shares. The major will end up with 100% of the Mt. Milligan copper-gold project, north of Prince George, B.C. Robert Hunter and Robert Dickinson, the team that financed extensive work programs at Mt. Milligan, are now shifting their focus to Pacific Sentinel Gold (VSE). The junior has five active mineral projects in North America, with the current flagship being the recently acquired Golden West project in Western Arizona.
The company acquired the right to earn a 50% interest in the early stage gold property from PIC Prospectors International (VSE) and Almaden Resources (VSE) by spending up to $3 million on the property.
The project area, 30 miles southeast of Lake Havasu City, is viewed as having potential for a large scale, open pit mining operation.
A major reverse circulation drill program is planned to begin shortly on the property, with the work focused on a 2,500-ft.-long gold soil geochemical anomaly. The company said 370 ft. of underground tunnelling in the centre of this anomaly averaged 0.06 oz. gold per ton over its entire length. Sampling in other areas has returned even better results (0.13 oz. gold over 110 ft.), and the company said several “spectacular” visible gold occurrences have been discovered.
Dickinson and Hunter are also actively seeking to acquire new properties for junior Covenant Resources (VSE).
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