A joint-venture agreement with Eastfield Resources (VSE) gives Prism Resources (VSE) the right to earn a 50% interest in a group of properties in the Tonopah gold mining district of west-central Nevada.
Eastfield has been acquiring ground and conducting exploration in the area for a year and a half, and now holds over 2,000 claims.
The Tonopah area lies within a structural belt containing volcanic-hosted, epithermal, gold-silver deposits.
Eastfield has identified at least five drill targets, and an 8,000-to-10,000-ft. drilling program will get under way in September.
To earn its interest, Prism must pay $200,000 cash and spend $1.2 million within four years. It must spend a minimum of $300,000 in the first year.
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