Australian mining company Ashton Operations Inc., an affiliate of Ashton Mining Ltd., has acquired an option to earn an interest in claims held by Freewest Resources. Ashton can earn a 65% interest in Freewest’s Red Horse Lake platinum property located southeast of Fort Francis, Ont.
Ashton can earn the interest by spending $2 million on exploration before Dec 31, 1991. After the company earns its interest, it remains obliged to fund all exploration costs until a feasibility study is delivered to Freewest. Preliminary work on the property has yielded assays up to 2.2 g palladium, 1.35 g platinum and 0.55 g gold per tonne.
Crews are on the property and a drill program is scheduled to begin in March, Freewest president M. I. Watson, tells The Northern Miner.
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