Central Crude makes payment

Central Crude (TSE) has made an option payment of $175,000 to Storimin Exploration (ASE) and Tandem Resources (ME).

The payment is part of an agreement among Central and the other two companies whereby Central can earn up to a 60% interest in the Moss Lake property in northwestern Ontario. Moss Lake contains a geological resource of 60 million tonnes grading 1.1 grams.

The money for the option payment was lent to Central by Hemlo Gold Mines (TSE) pursuant to a previously established, short-term, secured credit facility.