A recent private placement by Laramide Resources (VSE) will provide funds for Atna Resources (VSE) to initiate joint exploration for gold-rich copper-zinc deposits in central California.
Atna has been active in the region for some time, and will provide local geological expertise to an ongoing joint venture which will be funded equally by each company.
Laramide’s recent purchase was for 250,000 Atna shares at 20 cents per share. In a separate venture, Laramide has started a work program on its Lara property and adjacent Chemanius property which was recently optioned from Falconbridge on southern Vancouver Island.
The program is aimed at reviewing and evaluating exploration targets and to help plan for drilling later this year or early 1993. Laramide reports that one new target has already been identified.
The primary goal of the drilling program is to increase the copper-zinc-gold resource previously outlined on Laramide’s 100% owned Lara property.
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