Based on a recent option agreement, Gold Fields Canadian Mining will take over as operator of the Forgold property, 30 miles from the Eskay Creek deposit north of Stewart, B.C.
Field work is now in progress, and Gold Fields is planning a drilling program during the next six weeks. The Forgold property is on the southern border of the Goz-RDN claims where a unit of Noranda (TSE) recently intersected 38 ft. of 0.7 oz. gold per ton, plus values in silver, copper, lead and zinc (T.N.M., Sept. 18/91).
Gold Fields can earn a 75% interest in the Forgold property by spending $4 million over four years. Once Gold Fields exercises its option, Ecstall Mining (TSE) will retain a 25% interest, while associated companies Akiko-Lori Gold Resources (VSE), Omega Gold (VSE) and Koala Resources (VSE) will have the right to back in for a 25% interest.
The junior companies also agreed to settle all legal disputes relating to the Forgold property.
Be the first to comment on "Gold Fields explores Forgold"