Bighorn Development Corp. has acquired an option from Catear Resources and a private Calgary- based company to earn up to 60% interest of approximately 54,000 acres in the Sulphurets area of British Columbia.
The option was obtained in exchange for staking this month of about 32,000 a cres in the Mt. Madge area surrounding 10,000 acres staked and prospected by Catear and its partner in 1986.
The option agreement includes about 12,000 acres in the Treaty area.
Geochemical analysis of silts and rock samples from the Mt. Madge area indicate gold and platinum values, says Bighorn.
Bighorn can earn its interest in the property on the following basis: a 30% interest this year by spending $100,000 in exploration and $10,000 on an option payment. An additional 15% interest can be earned in 1988 by spending $200,000 on exploration and making a $25,000 option payment. A further 15% interest can by earned in 1989 by spending $400,000 on exploration and $25,000 as an option payment.
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