With the new property acquisitions, Crown now controls more than 18 square miles of the area which is considered prospective for skarn-related gold mineralization in northeastern Washington.
An exploration program costing $650,000 was budgeted earlier this year for Crown’s Buckhorn project. A previous drill hole on the property intersected 75 ft grading 0.319 oz gold per ton.
Nearby, the 1,400-acre Crystal Butte property was optioned from Orvana Resources and Keystone Gold. The property is believed to contain a 5,000-ft strike extension of the Buckhorn Mountain skarn system where encouraging gold values have been returned. Under the terms of a recent option agreement, Crown may earn a 55% interest in the property by conducting annual work programs and making cash payments for an undisclosed amount.
Another 2,140-acre property, situated on the west and east sides of Buckhorn Mountain, was optioned from Curlew Lake Resources (VSE). A large portion of this property overlies possible extensions of the Buckhorn Mountain skarn system. Crown has been assigned 100% ownership of the property for an undisclosed amount, subject to a 5% net smelter royalty.
The 4,400-acre Strawberry Lake property was acquired through two lease agreements with private land owners. Numerous gold showings are reported on that property in a geological environment similar to Buckhorn Mountain.
Chris Herald, Crown’s vice- president of exploration said: “With these new acquisitions, Crown now controls the entire Buckhorn Mountain skarn system.”
The recent acquisitions are held jointly by Crown and its 68%-owned subsidiary Gold Texas Resources (VSE) of Vancouver.
]]>
Be the first to comment on "Crown Resources gains ground at Buckhorn"