A joint-venture agreement with Cash Resources (VSE) paves the way for NDU Resources (VSE) to earn a half interest in the Ruby Range gold property in southwestern Yukon.
To do so, NDU must pay $150,000 cash and spend $2 million on exploration by the end of 1997.
Almost half of the overburden-covered property has been subjected to grid soil sampling and prospecting.
The gold mineralization encountered to date is associated with disseminated arsenopyrite in quartz veins and the surrounding graphitic, quartz-biotite schist country rocks.
Mineralized float was found within two gold-arsenic soil geochemical anomalies situated 3,000 metres apart. The length of each is about 3,500 metres, while the widths are 300 and 800 metres.
Chip samples at the end of last year’s program returned up to 9.22 grams gold per tonne over 7.4 metres.
The two anomalies will be further tested this summer in a program of geophysical surveys, excavator trenching and 1,500 metres of drilling.
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