Valerie eyes Walker Lane

Vancouver — With an option over the 165-sq.-km Crystal diamond property in Manitoba, junior Valerie Gold Resources (VLG-V) has broadened its horizons by inking a deal over the Walker Lane gold project near Gabbs, Nev.

Located some 20 km south of the Paradise Peak gold-silver mine, the Walker Lane property is covered by Miocene felsic volcanics, which are considered prospective for “low-sulphidation-type” gold targets.

Valerie Gold can acquire the property by issuing 200,000 shares and making cash payments of US$70,000 over a two-year period. The vendor retains a 2.5% net smelter royalty on any gold-silver production.

The junior has launched a US$90,000 exploration program designed to refine drill targets over the Ron, Don and Pat prospects. A 1,300-metre, reverse-circulation drill program is expected to begin later in the year.