A drill program will be carried out on Prism Resources’ (PRN-V) newly optioned gold property in Nevada’s Battle Mountain trend.
The land package consists of 13 unpatented claims, about 22 miles southeast of the town of Battle Mountain. Drilling on identified targets will start next year. The junior notes that its property is well-placed on the upper-lower plate contact of the Roberts Mountain Formation, host of most of the gold deposits in northern Nevada.
Under an agreement with Nevada Mine Properties, Prism must pay advance royalties of US$5,000 once the agreement is executed, plus US$7,500 on the first anniversary of the deal and US$10,000 on subsequent anniversaries.
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