Teryl, Kinross team in Alaska

Kinross Gold (K-T) has agreed to acquire a 70% interest in the Westbridge claims in Alaska’s Fairbanks district.

In return, Kinross must pay US$285,000 to Vancouver-based Teryl Resources (TRC-V) and spend US$1.5 million on exploration over five years. Over the same period, it must also pay US$1 million in advanced royalties to a U.S. subsidiary of Teryl.

The 53-claim, 2,600-acre property is near Kinross’s Fort Knox mine, which is said to contain 4.1 million oz. averaging 0.03 oz. gold per ton.

In addition, Kinross and Teryl are working the Gil gold prospect, also in Alaska, in which they own 80% and 20% interests, respectively.