Kennecott Exploration will option its 20-claim Table Mountain project in Nevada to Newhawk Gold Mines (NHG-T).
Table Mountain lies 30 miles south of Winnemucca, between Newhawk’s Pronto Plata property and the Goldbanks project of Kinross Gold (K-T).
The agreement requires that Newhawk pay US$2,000 initially, followed by subsequent payments of US$15,000 by Oct. 18 and US$39,000 by Jan. 16, 1997.
Table Mountain hosts a large, rock-chip, geochemical anomaly varying in width from 200 to 1,000 ft., with a strike length exceeding 4,000 ft.
Six samples along strike returned greater than 1,000 parts per billion gold, the company says.
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