Alban, Noranda plan drill sites at Mitzi

As Noranda (TSE) completes an additional IP survey over the Mitzi gold-copper property, 19 km west of the Mount Milligan project in central British Columbia, joint venture partner Alban Explorations (VSE) is preparing for a 12-hole drill program. Alban says the first phase of the program, totalling approximately 6,000 ft., will focus on a geophysical anomaly currently measuring 1×3.2 km. The company believes Noranda’s current survey will double this area.

Alban can earn a 50% interest in the property by spending $1 million over a 3-year period. To ensure that Alban has sufficient funds to finance the exploration, Placer Dome (TSE) and Alban have concluded an agreement involving several private placements.