Under terms of the option agreement, Bitech is to make option payments of $60,000 and spend $800,000 on exploration over five years to earn a 60% interest in the claims.
The property, known as Mings Bight West, comprises 512 hectares and is on the Baie Verte Peninsula. It adjoins the Lightning Zone property currently under option to Corona Corp. (TSE) from Varna Gold (ASE). Bitech says it is formulating an exploration program for the 1990 exploration season.
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