An agreement has been signed between Platinova Resources and Mount Estelle Resources, a private company. The deal allows Mount Estelle to share equally in Platinova’s interest in a gold project joint ventured with Cominco American. The project is in Alaska.
Work completed by Platinova last year identified several gold mineralized areas which yielded several high grade assays. Cominco, the project operator, has proposed a $1.1-million exploration program which will be funded by Mount Estelle this year.
Platinova and Mount Estelle can earn a 40% interest in the property by spending a total of $3 million(US). An additional 5% can be acquired by spending $2 million(US).
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