Bruneau and Canamax agree with Tashogan on Kowkash project

Exploration is slated for the Kowkash project following an agreement-in-principle reached between Montreal-listed Bruneau Mining Corp., Toronto-listed Canamax Resources and Tashogan Minerals, a private company.

Under the terms of the agreement, Tashogan may earn a 50% interest with an election to increase that interest to 70% in this Canamax and Bruneau project located at Tashota, northwest of Geraldton, Ont.

To earn its 50% interest, Tashogan is required to make a payment of $109,000 and commit to carry out $500,000 in exploration on the property in the first year, with an aggregate required expenditure of $1.5 million in the first three years of the agreement.

After earning its 50% interest, Tashogan may elect to make a further cash payment of $500,000 and spend an additional $1 million over an 18-month period to up its interest in the property to 70%.

Previous drilling on the 103- claim Kowkash project has outlined a geological reserve of 212,000 tons grading 0.21 oz gold per ton. The gold is associated with sulphide- bearing chert units.