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Bravada Gold Corporation (TSXV:BVA,FWB:BRT) signed a Letter of Intent with Goldspike Exploration Inc. for exploration on the North Lone Mountain property in Nevada. The agreement allows Goldspike to earn a 50% interest in the property by funding a work program of US$150,000 over two years, after which the companies will form a joint venture to further explore and develop the property. During the earn-in period, Bravada will be operator.
As quoted in the press release:
Goldspike controls the Lone Mountain Zinc project, located approximately 10 kilometers to the southeast where Goldspike is delineating high-grade zinc mineralization and has an option to purchase a 100% interest through payments of cash, shares, and a retained royalty Bravada’s South Lone Mountain property (see NR-08-14 for details of that agreement). South Lone Mountain is adjacent to the Lone Mountain Zinc property and soil geochemistry indicates that mineralization extends onto Bravada’s claims.
Click here to read the Bravada Gold Corporation (TSXV:BVA,FWB:BRT) press release
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