Wednesday, 25th August 2004 (3147 views)

Canadian mining firm Valencia Ventures has announced it has entered into an agreement with Beartooth Platinum to obtain an interest in the Idaho Gold Project.

Under the new deal Valencia will have a 51 per cent share, but will have to pay for $500,000 of expenditures for the project within two years.

In addition Valencia has also agreed to a non-brokered private placement of 2,500,000 units.

At present Beartooth's Idaho project controls all of the five gold projects, with both oxide and sulphide gold deposits available for current exploration.

A number of gold deposits were identified at the properties during extensive drilling by a host of other companies between 1984 and 1998.

 

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