Noble Peak Resources (ASE) and Dejour Mines (TSE) have formed a new company to carry out exploration on their jointly held ground within the Rankin- Ennadai greenstone belt.
MH Resources, which recently signed an option agreement with Placer Dome (TSE), now holds the mineral rights to the 238,000-acre Turquetil properties in the Northwest Territories. Placer can earn an interest in the claims in return for undisclosed exploration expenditures.
The main target on the Turquetil ground is estimated to contain preliminary reserves of 500,000 tonnes grading 6.3 grams gold per tonne, with mineralization open along strike and downdip. Exploration, which started in 1987, also uncovered a number of new gold and base metal occurrences.
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