Vancouver-based BMR Gold (TSE) has an option to buy all the shares of Bullion Mines, a private company in Delaware.
Bullion holds certain mineral and operating rights to the Bullion gold project in the Bullion Mountain Range of California’s San Bernardino Cty., 15 miles northwest of BMR’s America Mine project.
Bullion may mine up to 250,000 oz. gold at the 15-sq.-mile property. It may also participate with a major North American mining company in a 50-50 joint venture related to the exploration and development of other areas of the property.
Subject to completing a Eurofinancing with C. M. Oliver & Co., BMR says it will manage both the Bullion and America Mine properties as one production unit.
The operation will involve processing mill-grade ore at the Bullion property and heap-leaching at one or both locations. Both projects are at an advanced stage of permitting.
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