Alliance Pacific Gold Corp. APG VSE August 6, 1997
Cyprus Canada Inc. Joint Venture with Alliance Pacific Gold
ALLIANCE PACIFIC GOLD CORP. ("APG-V;APGO-L")
- Cyprus Canada Inc. Joint Venture with Alliance Pacific Gold
Brian A. Lueck, President of Alliance Pacific Gold Corp., announces that the company has entered into a joint venture agreement with Cyprus Canada Inc. on its Yukon Territory 'Hess River project'.
The company has finalized the agreement to joint venture all of the wholly owned properties of Alliance Pacific Gold Corp., excluding the area known as the Plata Mine Zone (containing a geologically indicated resource of 800,000 oz. Au equivalent). The properties contained in this agreement are the zones known as Ann Mark, Arrow Head Lake (north and south), Emerald Lake (Tom, Glacier and Mt. Soliel zones), Plata North, Cabin Creek, Twin Batholiths and Niddery Lake. Cyprus Canada Inc. may earn a 70% interest in these properties by spending a total of CAD$4,000,000 in exploration under preset terms and conditions. No interest is earned by Cyprus until the entire $4,000,000 is spent.
Cyprus has undertaken to expand the current claimblocks though staking, which has now been completed. The expanded claimblocks contain several significant sedimentary hosted gold targets. All newly staked claims become part of the joint venture package. (Applied only to Areas of Influence.)
Alliance Pacific Corp. welcomes the opportunity to expand on the work previously done in this region and acknowledges the significant value of this new joint venture relationship with Cyprus Canada Inc.
TEL: (604) 688-2010 Brian A. Lueck, President TEL: (800) 785-3339 Alliance Pacific Gold Corp. FAX: (604) 688-2015 |
