BHP-Utah to explore Carlin Gold’s Oregon prospect

Having established a substantial property position in southeastern Oregon, Carlin Gold (ASE) recently announced a joint venture agreement with BHP- Utah International to explore an epithermal gold prospect in the Stockade Mountains of Malheur Cty. Through exploration expenditures and annual payments to Carlin Gold, BHP-Utah can earn a 70% interest in the Stockade Mountains property which, the company says, is prospective for a large, precious metals-bearing, high level epithermal system.

Preliminary geological and geochemical reconnaissance work to date has been focused along a major structural zone up to 5,000 ft. wide and more than seven miles long. Should a deposit be found, BHP- Utah would be required to finance Carlin Gold’s 30% interest through to the start of commercial production.

Carlin Gold is a small technically oriented junior whose corporate objective is to locate bulk minable gold deposits, primarily in the western U.S., and then enter into a joint venture arrangement for the properties with a major mining company.

The Toronto-based junior has already attracted several majors willing to fund substantial exploration programs on its U.S. properties. These include American Barrick, Freeport McMoRan Gold, Cameco U.S. and BHP-Utah.