BASE METALS SPECIAL — Fort Knox property attracts major

Nickel giant Inco (N-T) has expressed a renewed interest in the Fawcett Twp. property of Fort Knox Gold Resources (FNX-T).

Interest in the property, situated near Shining Tree, Ont., has been ongoing since 1991, when a 110.9-ft intersection returned values of 1.03% nickel and 0.43% copper. (Recent drill results have failed to outline any significant mineralization.)

An agreement calls for Inco to make option payments of $500,000 and spend $2.5 million over four years. This will enable the major to earn a 65% interest, at which point a joint-venture would be formed.

Meanwhile, Fort Knox has completed a private placement with Northfield Capital for $150,000 for new projects under evaluation.