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Friday, 19th December 2008 (1379 views)

Pacific North West Capital has announced that it has been given an option to acquire a 100 per cent interest in Mystery Creek Resources which owns the Nixon Fork gold mine in Alaska.

The company stated that the option is exercisable until February 15th 2009 and the agreement is subject to regulatory approval and the satisfactory completion of a due diligence review.

Pacific North West has paid $100,000 (£67,000) on signing the agreement with Mystery Creek Resources, a subsidiary of St Andrews Goldfields and it will pay a further $400,000 if it exercises the option.

Located 56km north-east of McGrath, Alaska, the Nixon Fork high-grade underground gold mine has previously been operated by Nevada Goldfields and SAS and Pacific North West will carry out "a comprehensive re-evaluation of mine reserves/resources, metallurgy, mining scenarios and permitting during 2009".

Based in Vancouver, Pacific North West Capital has stated that its corporate objective is to acquire under-funded advanced stage projects.

 

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