Nugget drilling Hill End project

Drilling is planned for early 1995 at the Hill End gold project in Australia, Nugget Resources (ASE) reports.

The junior, which recently completed a $525,000 initial public financing to gain a listing on the Alberta Stock Exchange, may earn a 45% interest and become operator of the project. To earn its interest in the project, Nugget must spend $500,000 on exploration work.

President Gordon Strasser says the area yielded many rich gold nuggets in the 19th century and that the largest gold nugget ever found — the Beyers & Holtermann, weighing 630 lb. — was taken from his property. The Nugget financing consisted of 1.75 million units at 30 cents each. A unit consists of one common share and one warrant. Two warrants and 40 cents will buy one share; the warrants will expire May 9, 1995.