A 5,000-ft. reverse circulation drill program funded by Silver Drake Resources (VSE) has started on the Hachita gold property in Hidalgo Cty., N.M. The drill program will test geophysical targets adjacent to several past producing mines. The 8,000- acre property is considered to be prospective for bulk tonnage, skarn gold deposits.
Champion Resources (VSE) will be operator. Silver Drake can earn a 50% interest by spending US$1 million by the end of 1991.
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