Granby options Nevada gold bet

Vancouver-based Granby Resources Inc. has optioned a 50% interest in a gold property in Nevada to Centurion Minerals, also of Vancouver. The property, called the Black Quartz property, lies adjacent to the Round Mountain mine operated by Echo Bay Mines of Edmonton.

“Several old mine workings exist on the property together with a number of highly mineralized, gold bearing outcrops,” Granby President Angus MacDonald says.

Centurion will fund initial exploration work on the property, expected to be take three months. Details of the option agreement are not available.

Centurion has agreed to purchase 500,000 Ganby shares at 52 cents a share in a private placement. The deal also included a warrant to purchase 100,000 shares in two years.