Tuesday, 29th May 2007 (2301 views)

An area of land near Clearwater, British Columbia, is to be investigated for its potential for gold production, it has been revealed.

Island Arc Exploration is set to invest at least $300,000 (£151,000) this year in developing information regarding the property.

Furthermore, Island Arc will be researching the Jake Property in conjunction with Rimfire Minerals of Vancouver.

"We look forward to working with Island Arc to advance the Jake property," commented David Caulfield, president and chief executive officer of Rimfire.

He added: "Island Arc is backed by a proven exploration group based in Kamloops. It is always an asset having a partner with local exploration knowledge."

According to Island, the Jake is a high-grade gold prospect in a region which has the potential to host economic gold mineralization.

Island Arc notes that the Jake gold was initially discovered in 2005 by a prospector and a channel sample assaying heralded 7.3 g/t of gold over 2.67 metres, 6.3 g/t of gold over 2.09 metres, 11.4 g/t of gold over 0.6 metres and 10.5 of g/t gold over one metre.

 

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