By acquiring three mineral leases, Aquaterre Mineral Development (VSE) has increased its holdings in Nevada to more than 6,500 acres.
The company expanded its HCS gold project by gaining the exclusive right to explore and mine the nearby BMS and Golden Wonder properties, all of which are in the Battle Mountain district of north-central Nevada.
Underlying the properties are early Paleozoic, sedimentary rocks, which could potentially host bulk-tonnage gold deposits.
A 15,000-ft. drill program on the HCS property will test geochemical targets, and a 5,000-ft. program is recommended for the Golden Wonder property, 3 miles to the east.
At the BMS, drilling will be preceded by geological mapping and additional geochemical grid work. The property includes a gold geochemical anomaly measuring 700 by 1,800 ft., as well as smaller, isolated anomalies.
Meanwhile, at the Red Hills-Arla property, in the eastern half of the state, geochemical sampling has defined an anomalous area of gold mineralization measuring 350 by 1,100 ft. Six soil anomalies have also been identified.
Aquaterre is in the final stages of a brokered public share offering, which will be used to fund the work programs.
The company currently has 6.5 million shares outstanding and $40,000 in working capital.
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