Northern Crown eyes Abitibi (April 08, 2002)

Vancouver — Northern Crown Mines (CXP-V) has inked a deal with Teck Cominco (TEK-T) to earn an 80% stake in the Amos gold-base metal property in Quebec’s Abitibi greenstone belt.

Situated 70 km north of Noranda, the Amos project covers a 32-km-long section of the belt. Some 30 gold and massive sulphide prospect have been identified, along with several geophysical and geochemical anomalies. Of particular interest is the southeastern part of the project, where grab samples collected within a 2-km geophysical anomaly returned up to 51.8 grams gold per tonne and 0.6% copper.

Northern Crown can earn its interest by spending $2 million by the end of 2005. The junior must then fund a prefeasibility study in order to maintain an 80% interest. Teck Cominco retains a back-in right allowing the major to earn a 60.8% interest in the project by spending 200% of the junior’s costs and completing a feasibility study.

The is planning a $250,000 program of airborne geophysics, to be followed by drill testing.