Inco increases ownership of Fort Knox

A deal has been made between Fort Knox Gold Resources and Inco Limited which will increase that latter’s control over the junior company and see a large gold property explored this fall. Fort Knox can earn a 40% interest in one of Inco’s properties by turning over 500,000 shares and spending $2 million over the next four years. The property is on Kakagi Lake in northwestern Ontario and comprises 329 claims.

Inco has spent $850,000 on the property to date, including a number of geophysical surveys and 17 drill holes