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Thursday, 23rd October 2008 (1029 views)

Exploration firm Liberty Star has revealed that it is to sell its option land at the Providence project in Nevada's "historic" Beatty mining district to NPX Metals.

The site, which is adjacent to land already acquired by NPX, is believed to host "commercially relevant" amounts of disseminated gold.

It forms the north-western wall of the Montgomery-Shoshone open pit, which was last mined by Barrick Bull Frog Mining - a subsidiary of Barrick Gold - in the 1990s.

The mineral zone accessed by this pit appears to continue onto the Providence land, yet this is still to be confirmed by precious metal drill testing.

NPX will obtain the stake in the project for $200,000 (£122,455). The two firms have also agreed that Liberty Star will provide development and exploration services for the programme.

Meanwhile Gryphon Gold has revealed that its subsidiary Nevada Eagle Resources has entered into an agreement with Newmont Mining over the Scraper property north of the Carlin trend.

Newmont will undertake exploration at the site.

 

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