Tuesday, 21st August 2007 (1882 views)

Two gold mining outfits have signed up to a joint venture agreement to explore a Mexican gold area, it has been announced.

The joint venture agreement establishes the venture between the Sutter Gold and Premier Gold to explore Sutter's Santa Teresa mineral concession in the high grade El Alamo district of Baja California Norte, Mexico.

Premier is set to earn an initial 50 per cent interest in the property by agreeing to a number of financial accords,

Hal Herron, president of Sutter Gold, noted: "Premier's experience in the Red Lake district of Ontario and Sutter's experience in the Mother Lode District of California makes this venture extremely well-suited to exploring the high grade gold potential of the El Alamo district."

El Alamo is located in a gold district which boasts 220,000 ounces of past gold production in addition to showing geological similarities to the Californian Mother Lode Gold district.

It is based 100 kilometres southeast of Ensenada and roughly 250 kilometres from San Diego, California.

 

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