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Drilling Commences at Newcastle Minerals’ Carscallen Property
Jul. 26, 2012 08:03AM PST
Gold InvestingNewcastle Minerals Ltd. (TSXV:NCM) announced that NY85 Capital Inc. has commenced drilling on Newcastle’s Carscallen property.
As quoted in the press release:
NY85 Capital Inc. has the option to earn a 60-per-cent undivided interest in the property by making cash payments to Newcastle over a period of two years totaling $85,000 and issuing to Newcastle over a period of two years a total of 750,000 NY85 common shares. In addition, NY85 Capital Inc. must incur exploration costs totaling $900,000 on the property over a period of three years.
Click here to read the Newcastle Minerals (TSXV:NCM) press release
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