Drilling Commences on Deer Creek Gold Property

- July 26th, 2010

Kootenay Gold Inc. (CVE:KTN) reports the beginning of a drill program on the Deer Creek gold property, West Kootenay region of British Columbia, Canada.
Kootenay has granted Northern Vertex the right to earn a 60% undivided interest in the Deer Creek Gold Property. Northern Vertex must spend $1 million on exploration over five years and issue up to […]

Kootenay Gold Inc. (TSXV:KTN) reports the beginning of a drill program on the Deer Creek gold property, West Kootenay region of British Columbia, Canada.

Kootenay has granted Northern Vertex the right to earn a 60% undivided interest in the Deer Creek Gold Property. Northern Vertex must spend $1 million on exploration over five years and issue up to 400,000 shares over a three-year period. Should the property go into commercial production Kootenay will receive an additional 250,000 shares of Northern Vertex. Subsequent to exercise of the earn-in, Northern Vertex and Kootenay will form a 60/40 joint venture.

The foregoing geological disclosure has been reviewed and verified by Kootenay’s CEO, James McDonald, P.Geo (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr. McDonald is a director of Kootenay.

For complete news release, click here.

For Kootenay’s company profile, click here.

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