To earn a 50% interest in the Emma gold mine property near Dunton, Colo., Lucas Gold Resources (ASE) recently issued two million series B preference shares to National Gold and Nickel Resources (VSE).
National has since sold 500,000 of these shares to Ainsley Financial for proceeds of $100,000.
The Emma property, a former producer, contains reserves of 175,956 tons grading 0.31 oz. gold and 6.07 oz. silver per ton. A decline has been driven to the sixth level of the mine.
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