Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Edward Lee, President of Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) (“Molycor” or the “Company”) is pleased to report drilling has commenced on its 100% owned Beaverdell Silver property, located 4km southeast of Beaverdell, British Columbia.
The exploration program will be focused on the North Kokomo – Tiger and Duncan Bounty vein areas where high grade rock chip samples were taken during an assessment program carried out during fall 2010 up to 61.98 oz/ton silver (See announcement dated December 14, 2010). The drill program will consist of 10 BTW diamond drill holes totalling approximately 1982m (6500 ft).
The North Kokomo and Tiger veins outcrop in 4 sections measuring approximately 100 meters each for an overall length up to 500 meters. The Duncan Bounty vein outcrops up to 1000 meters. The property features 0.1 – 3.0 meter wide quartz sulphide veins trending northwest, west and northeast and vary in dip from vertical to -50 degrees south. The objective of the proposed diamond drilling is to intersect the quartz sulphide veins near surface and to a depth of 200 meters.
via Molycor Gold Corp.: Phase I Drilling Commences on the Beaverdell Silver Property.
