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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (27032)	12/4/2006 11:48:06 PM
From: heinz44	Respond to of 78418

I guess google...boogled\ Vielen Dank or Danke Vielmals is right Now for another "hot" one....just about forgot Definitely has the right people involved!!!BUY!! Columbus Gold enters JV agreements on three properties 2006-12-04 06:34 PT - News Release Mr. Robert Giustra reports COLUMBUS GOLD JOINT VENTURES THREE OF ITS NEVADA GOLD PROPERTIES Columbus Gold Corp. has entered into joint venture agreements with privately held Sniper Resources Ltd. (SRL) on three of its Nevada gold properties: the Linka property, the Guild property and the Pete's Summit property. Under the terms of the Guild property agreement, SRL can earn an initial 51-per-cent interest in the Guild property by making: i) a cash payment to Columbus Gold of $17,500 (U.S.); ii) an additional payment of $32,500 (U.S.) in either cash or shares of SRL, at SRL's election, on the earlier of April 30, 2007, or the completion of SRL's initial public offering on the TSX Venture Exchange; and iii) by incurring $2-million (U.S.) in exploration expenditures within a five-year period. Under the terms of the Linka and Pete's Summit property agreement, SRL can earn an initial 51-per-cent interest in both Linka and Pete's Summit by making: i) a cash payment to Columbus Gold of $17,500 (U.S.); ii) an additional payment of $32,500 (U.S.) in either cash or shares of SRL, at SRL's election, on the earlier of April 30, 2007, or the completion of SRL's initial public offering on the TSX Venture Exchange; and iii) by incurring $2-million (U.S.) in exploration expenditures collectively on the two properties within a five-year period. After earning a 51-per-cent interest in any of the properties, SRL will have the option of either: i) entering into a joint venture agreement on that property with Columbus Gold whereby SRL will own 51 per cent and Columbus Gold will own 49 per cent of the joint venture; or ii) electing to earn an additional 19 per cent of that property by completing a positive feasibility study. On completion of a positive feasibility study, Columbus Gold will then have the option of either: i) entering into a joint venture agreement with SRL on that property whereby SRL will own 70 per cent and Columbus Gold will own 30 per cent of the joint venture; or ii) electing to receive a 2-per-cent net smelter return royalty. The Guild property consists of 118 mineral claims, covering 987 hectares (2,439 acres), located 80 kilometres (50 miles) northeast of Tonopah, Nev. Subject to net smelter return royalties, Columbus Gold controls a 100-per-cent interest in the property. Carlin-style gold mineralization at Guild occurs within a 700-metre-long zone of jasperoid and silicified Ordovician limestone averaging six to seven metres thick. Outcrop samples collected within a 55-metre length of the mineralized zone average 1.84 grams per tonne (g/t) gold. Past work by American Selco and Western States Minerals has been limited to short drill holes not exceeding 150 m. The recognition of Carlin-style gold mineralization at Guild led Columbus to additional prospecting and consolidation of the current land position. Subsequent mapping and sampling programs outlined new targets including extension of the structure controlling the original Guild gold showings under shallow cover and areas of silicified Mississippian Webb formation, host to the Rain, Dee and other important gold deposits in eastern Nevada, containing anomalous gold with barite and other gold tracer elements. The Linka and Pete's Summit properties consist of a combined 188 mineral claims, covering approximately 1,572 hectares (3,885 acres), located at north end of the Shoshone range, about 24 kilometres (15 miles) southwest of Austin, Nev. Subject to net smelter royalties, Columbus owns a 100-per-cent interest in the properties. The two project areas cover a series of windows through the Roberts Mountain thrust fault, within a 10-kilometre-long belt, exposing altered and mineralized Silurian Roberts Mountain formation. This is the classic geologic setting for Carlin-style gold deposits in central and eastern Nevada. Prospecting activities by Columbus during the past year have identified several centres of mineralization within the claims containing gold values to 0.37 part per million with anomalous arsenic, antimony and mercury. Apart from limited historic work on skarn tungsten showings at Linka, there has been no modern gold exploration carried out within the claim areas. John Prochnau, BSc (mining engineering), MSc (geology), and director of Columbus Gold, is the qualified person who reviewed and approved the contents of this news release.