Eastfield and Prism plan work in Nevada

Partners Eastfield Resources (VSE) and Prism Resources (VSE) have bought the Three Hills project in Nevada.

The companies paid Coeur Exploration US$320,000 for the property, which, when combined with their adjacent Hill of Gold property, expands the joint venture’s ground position to more than 4,000 acres.

Previous work on the Three Hills property, including 142 drill holes, outlined roughly 3.2 million tons grading 0.036 oz. gold per ton. The work included metallurgical studies on a 500-lb. sample of run-of-mine material, returning a recovery of more than 80% during a 94-day column test.

Prism and Eastfield expect to spend $1 million on the two properties this year.

Immediate plans call for geologic, geophysical and geochemical surveys, which will be followed by drilling.