By spending more than $500,000 on exploration work at Hawkins Hill at the Hill End gold property in New South Wales, Australia, Nugget Resources (ASE) has earned a 45% interest in the project.
A drilling program, the objective of which is to find the extension of gold-bearing veins from Hawkins Hill, confirmed a geological structural theory developed by the company’s consulting geologist, Derek McBride. Assay results are awaited, and a second drilling program is planned.
Nugget is completing a joint venture with Silver Orchid Pty., a private Australian company, and First Tiffany Resources of Alberta. Nugget, with a 45% interest, will be the operator. Silver Orchid will have a 40% interest. First Tiffany, with a 15% interest, will have a free carried interest up to, and including, the feasibility stage.
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