Bear Lake Resources has signed an option agreement for the purchase of the C.O.D. Crown Grant claim in the Jewel Lake area of British Columbia’s Greenwood mining division.
Bear Lake will pay J. A. Sandell of Long Beach, Calif., $250,000(US) over the next 11 years for the property. The agreement is subject to approval by the Vancouver Stock Exchange.
Bear Lake has also entered into negotiations with Glendale Resources to form a joint venture to develop Glendale’s adjacent Tel 2 property situated on the same C.O.D. vein south of the C.O.D. Crown Claim. The C.O.D. vein, as exposed in the shaft, is similar in mineralization and in gold-silver grade to the Jewel vein 4,000 ft to the east. The Jewel vein has a long productive history and is currently profitably developed to a depth of 500 ft.
Be the first to comment on "Bear Lake purchases Greenwood crown grant"