Anglogold joins Rimfire in Alaska

Vancouver Junior Rimfire Minerals (RFM-V) has inked two deals allowing Anglogold (AU-N) to earn up to a 70% stake in the Eagle and ER-Ogo-Fire properties in east-central Alaska.

Under the terms of the agreement, the major can earn a 50% interest in the properties by paying US$100,000 and spending US$400,000 on each property over a four-year period.AngloGold can increase its interest in the properties to 70% by spending an additional US$500,000 on each property.

Both projects are located in the Goodpaster District of Alaska, near Teck Cominco’s (TEK-T) Pogo gold deposit. Previous work on the Eagle property includes 275 metres of diamond drilling that tested portions of a 3-by-1.5 km gold-arsenic-bismuth-tungsten soil anomaly. The ER-Ogo-Fire property is adjacent to the Pogo property. Reconnassiance exploration has outlined a 1.8 km-by-400 metre gold-arsenic-antimony-silver-bismuth soil anomaly.