Mini-rush to the Klondike — Kennecott commits to

The Klondike gold rush days may be long gone, but it would seem Kennecott Canada is of a different opinion.

The company will spend more than $500,000 this year exploring properties in the Klondike camp near Dawson, Y.T.

The work will include drilling, ground geophysics and geochemistry in existing target areas, plus grassroots exploration to identify new targets. Among the areas being explored is the Lone Star property held by Arbor Resources (VSE). Kennecott can earn a 55% interest over several years by spending $3 million.

The major can also earn a 55% interest by spending $2 million on various other Klondike gold properties held by Arbor and associated companies. These include nine Vancouver-listed firms (Wealth Resources, Faith Mines, Klondike Reef Mines, Pacific Mariner Explorations, Otis J. Exploration, Sultan Minerals, Cream Silver Mines, Emperor Gold and Klondike King Gold) and one listed on the Toronto Stock Exchange (Aurizon Mines).