BHP Utah Mines is beginning a 4,000-ft drill program on a property held under option from Glencairn Explorations (ASE). Known as the Blue Mountain property, the claims are located west of Kirkland Lake, Ont. BHP is planning a 9-hole program designed to examine several geophysical anomalies which suggest that two veins, 7,000 ft apart, are possibly connected.
BHP can earn a 55% interest by spending $150,000 on exploration. At the completion of this program, BHP will have exceeded the minimum expenditure required to earn its interest. Glencairn plans to maintain its interest and has raised $19,400 from the sale of 29,000 flow- through shares at 69 per share.
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