NEWS ROUNDUP — Aquiline options ground to Noranda

Mining giant Noranda (TSE) is demonstrating interest in three Mexican copper properties belonging to Aquiline Resources (VSE).

The properties — La Reyna, La Vista and La Joya — are all in the southwestern state of Michoacan.

By paying US$500,000 and incurring exploration expenditures of US$1 million on La Reyna and US$1 million on either La Vista or La Joya by April, 1997, Noranda can earn a 51% interest. A further 24% can be earned in the subsequent two years by spending an additional US$2 million on exploration and development, as well as being responsible for arranging financing. Noranda Exploration has carried out mapping, geochemical and geophysical surveys on the property.