Wednesday, 28th March 2007 (2049 views)

The Golden Oasis Exploration Corporation has announced that it has optioned one of its mines in Nevada, US.

Located 26 miles south of Goldfield in the Tokop mining district, the Empress Project has been optioned to the Minquest group of Reno, Nevada.

Under the terms of the agreement, the group must reimburse Minquest acquisition and sampling costs totalling $6,000 (£3,056).

Property payments of $546,000 will be paid to the underlying owner of the property over a period of four years, with the company having the option of purchasing up to one half of the royalty in the property.

Totalling some 54 unpatented mining claims in total, the Empress and the Wonder mines remain the two most historically significant in the Walker Lane group.

Sampling carried out shows that there are at least two high-grade gold/silver mine targets at the Empress project.

 

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