Although best known for holdings in northwestern British Columbia, Integrated Resources (ASE) and Capra Minerals (ASE) recently announced plans to acquire a 45% interest each in a Nevada gold project. Under the terms of a recent agreement with a private Alberta company, the two juniors acquired an interest in a lease/option agreement which provides for exploration of the Blackrock lode property near Dayton. The property is viewed as having good potential to host high- grade “bonanza” style gold mineralization, or, alternatively, a low- grade, bulk-tonnage, heap leachable gold deposit.
Almac Mineral Resources, which will retain a 10% interest, will operate the work program on the property as directed by a joint exploration management committee from the three companies. A first-phase program consisting of sampling, mapping and a geophysical survey to further define additional drill targets is under way.
The property can be purchased outright for US$2 million, or the juniors can opt to make staged exploration expenditures and cash payments over three years.
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