Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Valerie Gold (VLG) -- Ignore unavailable to you. Want to Upgrade?

To: stevieD who wrote (181)	1/22/1999 7:25:00 PM
From: Ed Pakstas	Read Replies (1) \| Respond to of 195

Nice going stevieD!!!...Here's the **NEWS RELEASE** Valerie to acquire Alaska property Valerie Gold Resources Ltd VLG Shares issued 12,070,107 Jan 22 close $0.79 Fri 22 Jan 99 News Release Mr. Arthur Troup reports The company has entered into an option agreement with David Johnson and Mike Raible of Fairbanks, Alaska, whereby Valerie can earn a 70 per cent interest in the Octo gold prospect 140 kilometres east-southeast of Fairbanks. The Octo property is comprised of 17,760 acres located near the headwaters of Shaw Creek, Alaska. The property is five kilometres northwest and along strike of the recently discovered important and large high grade Pogo gold property currently under exploration by Teck Corp. and Sumitomo Metal Mining Co. In 1998, Teck delineated a 10-million ton deposit containing 5.2 million ounces of gold at an average grade of 0.52 ounce per ton. The resource remains open to the northwest and to the southeast. Government airborne geophysical maps show that the Pogo deposit is associated with a prominent magnetic low situated along a northwest trending magnetic linear. A similar magnetic feature occurs on the Octo gold property. The company can earn a 70 per cent interest in the property from the vendors by making cash and share payments over 36 months and incurring exploration expenditures of $200,000 (U.S.) over 12 months. The property is subject to a 30 per cent carried interest and a 3 per cent net product royalty. Valerie can purchase the 30 per cent carried interest in the property for 200,000 shares at any time up to commercial production and has the right to purchase 1 per cent of the net product royalty for $1,000,000. A finder's fee is payable to an individual. The company is presently incorporating an Alaskan subsidiary to hold and explore the Octo property. A 1999 work program is planned to begin in April and will involve geological mapping, prospecting, geophysical and geochemical surveys and diamond drilling. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com