A 20-hole drill program comprising 2,500 ft. will test a deposit of nickel mineralization for potential minable thicknesses at the Taiga project, 95 km northeast of Dawson City, Y.T.
The project consists of 194 mineral claims, most of which are wholly held by Blackstone Resources (BZZ-A). In 16 of the claims, Major General Resources (mgj-v) has a 25% interest.
Glenhaven Resources (GNN-A) can earn an initial 50% interest in the project by spending $1 million on exploration, paying $175,000 in cash and issuing 100,000 shares to Blackstone and Major General by the end of 1999.
Glenhaven can boost its interest to 60% by spending a further $1 million, paying $250,000 and issuing an additional 100,000 shares by the end of 2000.
Three target areas will be tested.
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