Golden Dragon Res. options Matheson area gold property

A 25-claim gold property in Bond Twp., near Matheson, Ont., has been acquired by Golden Dragon Resources (VSE).

The property covers the western extension of a fault zone which extends from the Harker-Holloway area to the east. Gold values have been reported in overburden holes drilled along the fault immediately to the east of the property, says R. S. Middleton, president. The property was obtained from two Timmins area prospectors for an initial payment of $7,000, and a second cash payment of $20,000, to be made in the second year.

Golden Dragon has subsequently entered into a joint venture agreement with Cross Lake Minerals, a private company also controlled by R. Middleton. Cross Lake can earn a 60% interest in the property by paying $19,200 to Golden Dragon.