Platinova Resources, a private company and a subsidiary of Toronto-listed Black Hawk Mining, has entered into three separate agreements on three of its properties.
The first is with Cominco Ltd. on the wollastonite property in Marmora Twp., Ont. Cominco has the option to earn a 51% interest in the property by funding all the exploration, development and market research expenditures up to the point of a production decision. The company is committed to an expenditure of $100,000 this year.
The second agreement is with Syngold Exploration. This Toronto- listed company may earn a 51% interest in a gold prospect in Whitney Twp. in Timmins area by funding $500,000 of exploration expenditures over four years. This year the company must spend $175,000.
Boulder Gold N.L. of Sydney, Australia, has signed a letter of intent with Platinova to earn a 51% interest in a platinum prospect in southwest Greenland by funding $500,000 over two years. A minimum of $150,000 must be spent this year.
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