EXPLORATION ’94 — Santa Fe options Calneva claims

Under an option agreement with Calneva Resources (VSE), a unit of Santa Fe Pacific will explore claims in Nevada’s Crescent Valley.

Santa Fe can earn a 65% interest in Calneva’s Blue Spider claims by spending an undisclosed sum on exploration over five years. The claims are adjacent to Placer Dome’s (TSE) South Pipeline gold project. Calneva also holds claims in Lander Cty., Nev., under a joint venture with Echo Bay Mines (TSE).

For the 1994 season, the latter has outlined a continuing exploration program which will include drilling. This marks the third consecutive year of work by Echo Bay on these claims.