I was wondering about International Freegolds participation in RV. It appears they have ground right between/ beside Pfn's Rv, and then on down right to Jane's. I managed to find the following on their site.
augoldgroup.com
....as follows....
International Freegold Mineral Development Corp. V.ITF & T.ITF
SUDBURY MINING DISTRICT
To date the Company has acquired approximately 31,055 acres (12,568
hectares) - (789 claim units). The properties cover both mafic intrusive
rocks of the River Valley Intrusion and the Nipissing Diabase, which are
both geologically favourable environments for hosting potential PGM-Cu-Ni
deposits in the Sudbury Mining District.
The Sudbury area has recently become the focus of an exploration and
staking boom, as a result of recent PGM discoveries by other exploration
programs in the area. Most recently, Pacific North West Capital Corp.
(PFN) (www.pfncapital.com) intersected significant platinum group metal
values in 13 of 13 holes drilled in the Dana Lake Area, River Valley
property. Historically, the Sudbury Mining District has produced in excess
of 20 million ounces of PGMs as a by-product of nickel-copper production.
Sudbury is home to Inco and Falconbridge, the largest nickel producers in
the world. Currently, both the Inco and Falconbridge smelters have
excess processing capacity.
Freegold's properties are located within 20 - 80 km of Sudbury and are all
road accessible. Consideration for acquiring the properties is as follows.
Cash payments totalling $171,800. Property payments of $235,000 over
four years, and issuance of up to 1,030,000 shares over four years. A
further 300,000 shares will be issued upon completion of a bankable
feasibility study. The properties are subject to a 3% percent net smelter
royalty (NSR) with a buy back provision for up to 2%. A finders fee will be
paid. All of the aforementioned are subject to regulatory approval.
Freegold has initiated its first exploration program and has slated
approximately $1 million dollars for exploration in the year 2000. A detailed
report with specific recommendations for each project is currently being
compiled. Exploration programs will include geological mapping,
prospecting, sampling, trenching, geophysics, and drilling.
ITF has retained Peter Dimmell as senior project manager. Mr.Dimmell is a
professional geoscientist (P.Geo.) with 30 years of experience in the
mining / mineral exploration industry. Mr. Dimmell has managed exploration
projects ranging from grassroots to advanced exploration / delineation
through to production. Freegold has established a road accessible base
camp, which is centrally located to Freegold's field projects and has
power, water and telephone services. Freegold has retained Mr. Orville
Caddy, of Goose Bay Labrador to co-ordinate the camp. Mr. Caddy has
over twenty-five years of experience in camp management/expediting
experience. |
