Dawson, Pacific reach agreement on silver bet

A $2.1-million joint-venture agreement has been signed between Dawson Eldorado Mines and Pacific Trans-Ocean Resources whereby Pacific may earn up to a 50% interest in the Plata-Inca silver project in the Yukon by funding 100% of the exploration costs.

A minimum of $600,000 will be spent by Pacific in the initial phase this year.

In a separate program, Dawson and Pacific plan to conduct high grade, bulk sample silver mining, with the companies to split net revenues. Main objects of this program are to establish silver and gold reserves by trenching and drilling, to conduct mill tests on 30-to-50- oz-per-ton silver samples and to ship high grade silver ore at 120 oz per ton or higher, Dawson President Paul White reports.