Ex-Gold Fields managers run Akiko

Several former senior executives of Gold Fields Mining have taken over the helm of Akiko Gold Resources (VSE).

President Stephen Flechner said Akiko intends to pursue projects that will enable it to become a producing mining company. The junior is now exploring projects in Nevada, British Columbia and Ontario.

As general counsel and secretary of Gold Fields, Flechner negotiated (on behalf of British parent Hanson PLC) the recent swap of that company’s mining assets for the coal assets of Santa Fe Pacific Minerals. He also managed Gold Fields’ lawsuit against Placer Dome concerning the Tenabo portion of the Pipeline gold discovery in Crescent Valley, Nev.

Akiko and Bradner Resources (VSE) have acquired a land package in the Crescent Valley area, which has been optioned to Consolidated Ramrod Gold (TSE). Other acquisitions in the area are being pursued, said Raymond Irwin, Akiko’s vice-president of exploration who previously managed Gold Fields’ exploration office in Reno.

Meanwhile, Akiko has released details of its plans for the White River gold project 20 miles from Ontario’s Hemlo camp. Akiko had hoped to have settlement papers signed, ending a lawsuit between the original stakers and the Broad Horizons group. The dispute must be resolved before Akiko and partner Gold Giant Minerals (VSE) can earn an interest in the White River claims and pursue a fresh joint-venture agreement allowing Hemlo Gold Mines (TSE) to earn a 50% interest.

“We hope to have this (settlement) wrapped up in a few days,” Flechner said, adding that the agreement covering the original claims is being broadened to cover an expanded area of interest. Once all legal issues are resolved, the partners plan to test a mineralized zone considered prospective for a Hemlo-type gold target.