American Platinum options properties

SouthernEra Resources (TSE) has entered into three agreements with American Platinum Inc. (VSE) which gives both companies the right to earn into each others platinum group metals projects in Ontario and Quebec.

In Ontario, SouthernEra has the right to earn a 50% interest in American Platinum’s Angle Bay property south of Lac des Iles. The company will pay $200,000 to American Platinum which must maintain the property in good standing.

On SouthernEra’s three properties in Quebec, American Platinum must spend $250,000 to earn a 50% interest and $125,000 to earn a stake in the company’s Entwine Lake project in northern Ontario.

The 15-claim Angle Bay property protects the eastern strike extension of the geology which hosts the Roby platinum group metals deposit, controlled by Madeleine Mines. Drilling is planned to test several showings which assayed up to 0.15 oz platinum group metals per ton on the Angle Bay claims.