Vancouver —
The property is 75%-owned by
Although Placer had drilled 2,500 ft. on the property in two holes last year, it came up empty. White Knight says Placer drilled two targets it considered low priority in order to meet work commitments.
Since then, Placer has done geochemical, geological and geophysical surveying that suggests the southern projection of the “Coal Canyon window” is buried on the Indian Ranch property. Placer’s geologists are quoted as saying that “the principal stratigraphic, structural and geologic features recognized in and around this window closely resemble those within the Cortez joint venture. These include, the Roberts Mountain thrust, lower plate calcareous lithologies, intrusive bodies with contact metamorphic aurioles, widespread alteration, and a gold-arsenic-antimony-mercury geochemical signature.”
Placer is exploring Indian Ranch via a binding agreement for development whereby it can earn a 60% interest in the property by spending US$2 million over four years.
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