Queenstake Resources is raising up to $600,000 for exploration of its B.C. and Yukon precious metal properties, the company reports.
The funds, resulting from a financing agreement with NIM and Co. Ltd. Partnership, will be used for drilling and pit sampling of the Moyie River placer gold property near Cranbrook, B.C., and for placer gold exploration in the Atlin, B.C. and Klondike, Yukon areas.
The company also plans continuing the drill program on its Mar gold vein property adjacent to its Mar tungsten deposit near Mayo, Yukon, as a follow up to a 1986 drill program.
Queenstake adds it is looking into joint venture possibilities on the Mar project.
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