An agreement with Silver Eagle Resources (VSE) gives Asarco (NYSE) an option to earn a 75% interest in the High Dollar property in the Carlin Trend of Eureka Cty., Nev.
Silver Eagle describes the 840-acre project as being at a grassroots stage and notes that it is only a few miles southwest of Newmonts huge Gold Quarry open pit.
Asarco must complete a detailed feasibility report, on completion of which Silver Eagle has the option to revert to a carried 10% net profits interest. Asarco agreed to spend at least US$50,000 on the property during the first year of the option.
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