The stage is set for Gagan Gold (VSE) to earn a half interest in the Noble property by spending $400,000 over three years.
The property, accessible by road, is near Birch Island in the district of Kamloops, B.C. When Gagan earns its interest, the junior will form a joint venture with Placer Dome (TSE) and Denison Mines (TSE).
Placer Dome has already spent $400,000 outlining coincident lead-silver soil concentrations and induced polarization anomalies believed to have massive sulphide potential.
The property covers three exhalative lead-zinc-silver prospects in the Eagle Bay Formation, two vein-type lead-zinc prospects, a gold occurrence and a gold-silver stream sediment anomaly. The main target is a
precious-metal-enhanced massive sulphide deposit, with a secondary target being structurally controlled precious metal deposits.
The first stage of exploration, to be operated by Placer Dome and Denison, will involve 400 metres of drilling within a grid containing the previously outlined anomalies.
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