Once permits are in hand, Valerie Gold (VSE) intends to start an initial 5,000-ft. drill program on its Mega-Gold property in the Taseko River area north of Lillooet, B.C.
The program will be funded by Kennecott, which recently acquired an option to earn a 51% interest in the property by spending $4 million by May 31, 1996. A further 9% can be earned by funding additional exploration and development to the point of a positive production decision if Valerie elects not to contribute to the joint venture at that time.
The Mega-Gold property is an early-stage gold-copper prospect which has a large IP anomaly centred over a large aerial EM anomaly. Further IP work is planned.
The property is near the Fish Lake copper-gold deposit being explored by Taseko Mines (VSE) under an agreement with Cominco (TSE).
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