COAL, URANIUM & OIL SANDS — Blue Desert options property

Blue Desert Mining (bde-a) can acquire from Kennecott Canada Exploration the Antimony Mountain gold property in the Yukon.

The property consists of 255 claims covering 4,950 acres and is situated 65 km northwest of Dawson City and 30 km north of the Brewery Creek open-pit gold mine.

Kennecott, a division of London-based Rio Tinto (RTP-N), previously focused on the property’s potential as a Fort Knox-style bulk-tonnage deposit within the well-mineralized Antimony Mountain stock on which the property is centred.

Blue Desert intends to follow up on the various known gold zones and showings found in the altered country rocks adjacent to the intrusion, using the high-grade Pogo deposit in Alaska as a model.

Kennecott can exercise a back-in right to re-acquire a half-interest in the property for a cash payment reflecting a 150% premium of its share of costs when Blue Desert completes a positive feasibility study.