A winter program of diamond drilling will begin in early 1992 on the Mitzi project 11 miles from Placer Dome’s (TSE) Mt. Milligan copper-gold deposit north of Prince George, B.C.
Placer recently exercised warrants to buy more shares of Alban Explorations (VSE), which is earning a 50% interest in the Mitzi property from Hemlo Gold Mines (TSE). After buying the 150,000 shares at $2 each, Placer now owns 850,000 Alban shares.
The funds will be used to carry out the winter program which involves 16 holes totalling about 5,350 ft. of diamond drilling to test a number of targets on the property.
These include more drilling in the Main Grid area previously drilled in early 1991, and the new CAS zone about three miles to the southwest. The program will be managed by Noranda Exploration.
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