Aber, Hidden Lake to explore N.W.T. bet

Based on a recently signed letter of intent, Aber Resources (VSE) and Hidden Lake Gold Mines (VSE) plan to form a joint venture to explore mineral claims at Trumpline Lake, about 45 miles east of Yellowknife, N.W.T. Aber can earn a 75% interest in the JE and WHT claim groups by spending $1.25 million before the end of 1995. The 6,578-acre properties are owned 50% by Hidden Lake and 50% by Ardic Exploration and Development, a New York- based private company which also owns about 40% of Hidden Lake.

The two claims groups were initially staked by Ardic and the exploration focus is gold and/or polymetallic mineralization. The claims are about 20 miles from Aber’s Sunrise massive sulphide discovery, currently the subject of a joint venture with Noranda Exploration.

Hidden Lake has five other gold exploration projects in the Northwest Territories, including the 100% owned Wheeler Lake iron-formation gold prospect, currently the subject of joint venture negotiations with several major companies.