Toronto-based Goldplex Development (ASE) says it has signed an agreement in principle with an as-yet-unnamed Vancouver company to earn a 49% stake in a Silver City, Nev., gold property by spending $60,000 on exploration. The property, in Nevada’s Comstock region, contains the former Columbia mine which produced 2,500 oz. gold equivalent from two sub-parallel vein structures.
Under an agreement, Goldplex will issue 100,000 treasury shares to the Vancouver company and carry out 3,000 ft. of diamond drilling to test the downdip extensions and the possible intersection of the veins at depth.
Goldplex director Paul Piazza said he was unable to name the Vancouver company involved. However, completion of the deal is subject to the signing of a joint venture agreement and regulatory approval.
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