Texasgulf’s key asset was a majority interest in a joint venture that has patented and unpatented claims on 4,200 acres of exploration and mining properties i n the Cripple Creek Mining District of Colorado. The land package is near Nerco’ s Victor mine which was closed in 1986 primarily because of low precious metal p rices.
“We’re optimistic about the exploration and development potential in the district,” noted Nerco President Lawrence Heiner.
Other assets in the transaction are exploration properties in California, Nevada, New Mexico, North and South Carolina and Montana.
Nerco sold about 139,000 oz of gold and five million oz silver in 1988 from one Canadian and three U.S. gold and silver mines. The company also pro duces coal and has significant oil and gas interests.
]]>
Be the first to comment on "Nerco acquires Texasgulf Minerals"