Vancouver-listed Annabel Gold Mines (VSE) can earn a half interest in the Carissa property in Wyoming from Hol-Lac Gold Mines (CDN).
The property consists of 12 patented lode claims and five patented placer claims in the historic South Pass gold camp on the Oregon Trail. Since the mine was discovered in 1867, about 30,000 tons have been mined from five levels.
In 1989, diamond drilling on surface and underground showed that gold mineralization continued to at least 150 ft. below the deepest workings at 500 ft.
Annabel must fund first- and second-year programs, each worth US$250,000. Hol-Lac currently owns the entire property which is not subject to any mineral royalties.
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