LATIN AMERICA — North options property

Australia’s North Ltd. and Spokane, Wash.-based Metalline Mining (MMGG-O) have formed a joint venture to explore the Sierra Mojada zinc project in the northeastern Mexican state of Coahuila.

North can earn a 60% interest by exploring the 7,970-ha property and producing a feasibility study in five years.

Metalline has drilled 24 holes in a program aimed at evaluating the potential of three past-producing zinc mines on the property. Highlights include 6 metres grading 9% zinc in hole 11, 8 metres of 11% zinc in hole 18, and 6 metres of 15% zinc in hole 21. The drilling tested the oxide zinc system over a distance of 1,500 metres.

Mineralization is associated with Cretaceous limestones.

Over the past 40 years, the mines produced a combined 600,000 tonnes of direct-shipping oxide ore averaging 30% zinc.

Metalline is responsible for property payments totalling US$3.3 million, due at the end of August 2000. In the event Metalline is unable to meet this requirement, North has the option of making the payments and thereby earning an additional 7.5% stake in the project.

North has also entered into joint ventures to explore two gold properties in Nevada: Antone Canyon and Rock Creek Ranch. The former is with Royal Standard Minerals (RSM-M); the latter, with White Knight Resources (WKR-V).