Tuesday, 25th September 2007 (1976 views)

Premier Gold Mines has announced that it plans to acquire a portion of holdings in the Geraldton Project from Roxmark Mines.

The Geraldton Project, located in the Beardmore-Geraldton Greenstone belt in north-western Ontario, Canada, covers around ten kilometres of what is considered to be a "highly prospective" high-grade gold district.

"The complete lack of modern exploration, particularly on the property holdings that are the subject of this agreement, allows for the potential of making numerous significant discoveries within this extensive property package," said Ewan Downie, the president of Premier.

A letter of intent, signed by both companies, is conditional on the completion of a due diligence investigation by Premier on titles to the properties making up the Geraldton Project.

Operating under the motto "A world of opportunity", Canada-based Premier is in the process of evaluating a number of high-grade gold projects in North America, namely its flagship venture in Red Lake, Ontario, as well as other projects in Canada and Mexico.

 

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