Central Coast Exploration is seeking a buyer for its 48.6% interest in City Resources (Canada) (TSE).
The Australian-based company is no longer able financially to support City Resources, whose key asset is the metallurgically complex Cinola gold project. The bulk-tonnage deposit is on the Queen Charlotte Islands of British Columbia. Proven and probable open-pit reserves were last reported to be 23.8 million tonnes averaging 2.45 grams gold per tonne.
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