Villebon gold property optioned by Kangeld

The Vancouver-based Hughes Lang Group is further expanding its interests and activities in the gold fields of northwestern Quebec. This will be through its Kangeld Resources, which company has made a deal with Venture Gold Corp. for the latter’s Villebon Twp. property there.

Under the terms of this agreement, Kangeld can earn a 70% interest for $25,000 and $325,000 to purchase 279,667 shares of Venture Gold over a 36-month period at prices ranging from 60 cents to $2 per share. Kangeld is also committed to expenditures of $1 million on the property over a 3-year period. The shares of both Kangeld and Venture are listed on the vse.