An aggressive drill program is being planned by Pacific Sentinel Gold (VSE) for a recently optioned bulk tonnage, potential heap leach gold property in La Paz Cty., Ariz. Pacific Sentinel can acquire a 50% interest in the project from Almaden Resources (VSE) and PIC International Prospectors (VSE) through cash payments to the two companies, a share exchange, and by spending $3 million on the property within three years.
Once Pacific Sentinel earns its interest, a joint venture will be formed with further project expenditures shared 50% by Pacific Sentinel and 25% each by Almaden and PIC International.
According to Robert Dickinson, president of Pacific Sentinel, the 2,100-acre Golden West property covers a large gold system with geological similarities to Cyprus Minerals’ Copperstone gold mine, 30 miles to the southwest. The producing mine is reported to host eight million tons grading 0.07 oz. gold per ton.
Mineralization on the property is reported to consist of free gold associated with hematite in a highly oxidized and silicified detachment fault system.
Initial sampling of an area measuring 600×1,000 ft. has returned encouraging gold values. Pacific Sentinel plans to start geological and geochemical surveys immediately in order to prepare for the drill program.
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