Subject to completion of a formal agreement and regulatory approval, Digger Resources (VSE) plans to earn a 50% interest in six precious metal properties held by a unit of Cominco (TSE) in the western U.S. The two companies signed a letter of intent agreement which, when completed, provides for the formation of a joint venture to explore the properties in California, Oregon, Nevada, Idaho and Montana.
Cominco American Resources will be the operator. Digger will earn its interest by spending a total of US$385,000 on the properties and on a gold reconnaissance program using an advanced remote sensing method in a prospective 2,300-square-mile area of Nevada.
Digger reports that the California and Idaho properties are at the drill stage, with a program scheduled for this year. Details of the work programs will be announced at a later date.
Digger is also involved in an exploration joint venture with BP Resources Canada on a copper-gold property near Placer Dome’s Mount Milligan project north of Prince George, B.C.
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