Junior Daren Resources (VSE) intends to acquire the Silver Dome property in Chelan Cty., Wash.
To do so, it will issue 200,000 shares, carry out a feasibility study and issue a further 200,000 shares on production. The vendor, Gold Ring Mining of Wenatchee, retains a 3% net smelter return royalty.
Veins of polymetallic mineralization exist in association with a major northwesterly-trending fault. They are emplaced within shear and breccia zones.
Chip sampling from two locations on the Main vein returned 1.8 metres grading 60.4 grams silver per tonne, 6.5% zinc, 0.16% lead, 0.05% copper and 47 parts per billion (ppb) gold; 0.9 metres grading 1,605 grams silver, 21.1% zinc, 0.32% lead, 0.38% copper and 93 ppb gold; and 1.8 metres grading 3,060 grams silver, 10.6% zinc, 0.55% lead, 0.13% copper and 18 ppb gold. In May, mapping and trenching will test the continuity of the Main vein and attempt to identify drill targets.
Crystal Capital, a non-arm’s-length company, retains a 10% interest subject to a buy-back provision held by Daren.
Daren has 3.3 million shares outstanding and $200,000 in working capital.
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