An option to acquire a 50% interest in four placer-mining leases in the Quesnel mining district near Barkerville, B.C., has been obtained by hwi Industries. The company reports the Barkerville area produced 2 million oz gold between 1860 and 1940. Exploration is under way at the property, and if results compare favorably to earlier engineering and geological studies, hwi says it will exercise its option by issuing 100,000 shares of common stock, recently trading in the 40 cents per share range.
The company says it intends to expand its operations into western Canada, and is evaluating other properties in the same mining district.
hwi has a major interest in a high grade gold concession in Columbia, South America, and is completing financing for mining operations there.
hwi is part of a combined resources group of companies with headquarters in North Salt Lake, Utah, that is developing precious metals resource properties in North and South America.
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