An 8,000-ft. drilling program has started on the Talapoosa project in Lyon Cty., Nev. The U.S. unit of Placer Dome (TSE) is the operator on the property and can earn a 51% interest from Athena Gold (VSE) by spending in the order of US$25.5 million. The drilling will focus on three areas peripheral to the main Talapoosa deposit, which was shown in a recent geophysical survey to have signatures similar to the Talapoosa.
The Talapoosa main deposit was previously estimated to contain a mineral inventory of 19.6 million tons grading 0.054 oz. gold per ton.
This stage of the drilling program will be completed by year-end and is expected to be followed by further drilling.
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