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Thursday, 18th November 2004 (3621 views)

King's Bay Gold Corp has revealed that it is to enter a joint venture with Richview Resources on its Headway (Red Lake) property.<BR/><BR/>Through the new venture, King's Bay has received a $500,000 lump sum payment and Richview will be able to earn a 45 per cent interest in the property.<BR/><BR/>The site is situated immediately adjacent to the richest gold mine in the world -Goldcorp's Red Lake mine.<BR/><BR/>Exploration on the site in the past has revealed a host of high-grade gold values and drilling programmes by the firm have also discovered a number of gold prospects.<BR/><BR/>The site is said to be one of the best-positioned exploration land packages within the whole area.<BR/><BR/>Another joint venture between the two firms has also been agreed, with drilling currently taking place at the Pickle Lake project.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7097957"/>

 

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