Two Noramco group companies recently entered into agreements allowing Noramco Mining (TSE) to earn interests in two separate copper-gold projects near Nelson, B.C. Golden Lake Resources (VSE), which holds an option to acquire 100% of the Kena property, signed an agreement whereby Noramco Mining can acquire an option to earn an 85% interest.
Noramco Mining can earn a 75% interest in the Shaft property where Golden News Resources (VSE) holds the option to acquire a 100% interest. The properties are subject to a 3% net smelter royalties.
Both properties were explored in 1989 and each is reported to contain extensive copper and gold soil anomalies. Some 1,200 metres of drilling is planned for each property this year.
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