Alban options Red Rock project

In return for up to a 5.5% net smelter return (NSR) royalty, Alban Exploration (VSE) recently optioned its Red Rock property in Ladner Cty., Nev., to Placer Dome (TSE).

Under the terms of the agreement, Placer can acquire the property by paying Alban a total of US$2 million through minimum royalty payments starting with an initial payment of US$10,000.

The NSR varies up to 5.5%, depending on the gold price.