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Abacus enters two-option agreement with Int'l Wayside
International Wayside Gold Mines Ltd IWA
Shares issued 37,963,497 May 10 close $2.04
Mon 26 Jun 2000 News Release
See Abacus Minerals Corporation (AMC) News Release
Mr. Steve Todoruk of Abacus Minerals reports
The company has entered into two option agreements to acquire two mineral
properties in the Wells/Barkerville area of central British Columbia. The
ST and Ham properties are located near International Wayside Mines Ltd.'s
Caribou gold property.
The ST 1-14, 16, 18-27, 29-47, 52-59, 61, 63 and 65 mineral claims adjoin
the northwest side of International Wayside's claim block approximately
nine kilometres from the Bonanza Ledge high-grade gold discovery. The
claims are underlain by Downey succession rocks, which is similar to those
found at the Caribou gold property.
The Ham 1-28, 36-51, 73-82 and 89-98 mineral claims are situated south of
International Wayside's Wolf and Ham claims and approximately 18 kilometres
southeast of the Bonanza Ledge discovery. The claims cover the favourable
geology that hosts the Bonanza Ledge mineralization.
To earn a 100-per-cent interest in the ST and Ham properties, Abacus must
make cash payments totalling $195,000 and issue 600,000 shares over a
four-year period.
Along with the Foster Creek property, Abacus now has three strategically
located properties adjoining International Wayside's Caribou gold property.
Exploration programs for each property are scheduled to begin this summer. |
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