Hemisphere Development Corp. is looking to acquire an interest in ground adjoining the Getty- Noranda gold discovery in the Courageous Lake area of the Northwest Territories.
The company says it has an agreement with Bow Valley Industries to acquire an option to earn a 50% interest in Bow Valley’s right to earn a 60% interest in three leases and three mining claims in the area.
Hemisphere/Bow Valley can acquire their 60% interest by making payments of $1.15 million and committing to exploration spending of $5 million over four years.
The Courageous Lake Greenstone Belt contains Giant Yellowknife Mines’ Salmita mine, and Tundra gold mines and the Getty- Noranda deposit. The belt, says Hemisphere is about 60 km in length and attains a maximum thickness of 6-6.5 km.
Hemisphere/Bow Valley are committed to spend at least $800,000 on the property in the coming field season, in a program to include geological, geophysical mapping and diamond drilling. Bow Valley will be operator.
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