Rhand acquires Lone Mountain

Alberta-listed Rhand Industries has an option to acquire Lone Mountain Mining, a privately owned US company.

As consideration, Rhand has issued 50,000 common shares and will spend $US250,000 on exploration.

Lone Mountain has several prospects in southwestern New Mexico, including: the Lone Mountain property (porphyry copper); Victorio Mountains (gold-zinc); and Orogrande (copper-gold-silver).

Each of these properties is subject to a 4% net smelter return royalty payment. Total acreage is about 5,000.