Valley View Gold Mines (formerly Cornucopia Gold Mines) reports it has an agreement with East West Resources for a joint venture to develop the Clementine mine northwest of Phoenix, Ariz.
Under the agreement, East West as operator will spend up to $250,000(US) in work on the property, through a feasibility study to bring the property into commercial production in order to earn a 50% interest.
The work program, according to President Irwin Singer, will start shortly and will consist of a reverse circulation program to expand reserves.
Previous work on the property has established open pit reserves of about 500,000 tons, at grades up to 0.10 oz gold per ton, with potential for reserve expansion.
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