LAC to earn 50% of DRX gold bet

Under an agreement, LAC can earn a 51% stake at Midas by spending $2 million on exploration over four years.

In other news, DRX says it has completed the second phase of drilling at its Commonwealth property in Cochise Cty, Ariz., where an in-house feasibil ity study is now under way.

Reserves, mineable by open pit methods, stand at about one million tons of grade 0.042 oz gold, but the company says the potential exists for an additonal fou r million tons on the property. DRX is also negotiating to purchase additional p roperties in the area.

As well, drilling has continued at Randsbury, Calif., where the company controls about 30,000 acres of gold claims. According to DRX, the progr am has resulted in the discovery of several mineralized areas on previously identified targets. DRX is reviewing the data from about 13,000 ft of drilling,

according to Randy Martin, DRX’s chief operating officer.

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