Calgary-based Gold City Resources (ASE) has optioned 450 claim units in southern British Columbia from a private Alberta company in return for the issuance of shares.
Exploration on the 25,000-acre property will target skarns enriched with precious metals, the junior says. The geology is similar to that of the Crown Jewel-Buckhorn mine in Washington state where partners Battle Mountain Gold (NYSE) and Crown Resources (TSE) have delineated a resource containing 1.5 million oz. gold.
Gold City is negotiating a private placement to fund summer drilling on the property.
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