Ventures adds to Alaskan holdings

Ventures Resource (VRS-V) is expanding its holdings in the Donlin Creek area of west-Central Alaska.

The junior and two majors, Placer Dome (PDG-T) and Cominco (CLT-T), are rapidly acquiring land following the discovery of the nearby Donlin Creek gold deposit. Ventures has already added another 3,000 acres to its Donlin North property, bringing to 13,700 acres its total holding there. Donlin North shares a border with Donlin Creek, which is owned by Placer Dome.

The newly acquired ground is northeast of Ventures’ existing property, and follows the structural grain of the region.

At the 1,500-sq.-Mile Veta property, 125 miles southeast of Fairbanks, preliminary exploration has outlined an anomalous gold zone measuring 13,000 by 5,000 ft.

Ventures controls more than 3 million acres in the northern state through an agreement with Doyon, an Alaskan native corporation. This year, the company plans to spend US$7 million developing its projects there.