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CARSON GOLD ENTERS INTO RELATIONSHIP TO EXPLORE AND DEVELOP LOTE DELTA AND NUEVA, ALASKA GOLD CONCESSIONS, KM 88 MINING DISTRICT, VENEZUELA

 VANCOUVER, Nov. 1 /PRNewswire/ -- Eric V. Friedland, chairman and chief executive officer of Carson Gold Corp. ("Carson") is pleased to announce that Carson has signed an agreement to enter into a strategic relationship for the exploration and development of the Lote Delta and Nueva Alaska gold concessions in the Kilometer 88 Mining District, Bolivar State, Venezuela. Both concessions contain alluvial as well as hard rock vein rights and were granted by the Corporacion Venezolana de Guayana (C.V.G.) to Minera La Fortuna C.A., a Venezuelan corporation.
 The 5,000-acre Lote Delta concession borders the Las Cristinas and Minerva concessions of Placer Dome Inc., and the Oro Uno concession of Venezuelan Goldfields Ltd. (see map). Placer Dome recently announced the discovery of 4.8 million ounces of gold on one of seven targets on Las Cristinas.
 The Nueva Alaska concession borders Carson's "Bloque A" concession (see map). This concession, totaling over 13,000 acres, has been the subject of extensive geological and geophysical work over the past year.
 Airborne geophysical data integrated with geochemical, ground magnetic and electromagnetic surveys has confirmed the existence of numerous anomalies on both Lote Delta and Nueva Alaska. Many of these anomalies correlate well with the extensive pitting and workings of the small time miners or "mineras" that recovered gold in the area for years.
 In exchange for 100 percent of the outstanding shares of Minera La Fortuna C.A., Carson will pay the following consideration:
 a) US $200,000 payable on or before closing;
 b) 2.5 million common shares of Carson and 2 million non- transferable share purchase warrants of Carson, issuable at closing, each warrant entitling the holder to purchase one common share of Carson at a price of Cdn. $4.00 for a period of three years from the closing date; and
 c) (i) Cdn. $3 million, payable at closing; and
 (ii) Cdn. $2 million, payable 30 months following closing;
 In addition to the consideration described above, Carson agreed to pay the following:
 (i) US $5 per ounce for each net ounce of gold in excess of the first 1,000,000 mineable ounces of gold and up to 1,500,000 mineable ounces of gold identified.
 (ii) US $8 per ounce for each net ounce of gold in excess of the first 1,500,000 mineable ounces identified by an approved feasibility study or studies.
 These payments are for a period of 15 years from closing. This transaction is scheduled to close on or before Dec. 15, 1993 subject to regulatory approval.
 Carson will commit to spend a minimum of US $1.5 million on these concessions over the next 24 months. Since extensive ground magnetic, electromagnetic, geochemcial, radiometric and airborne geophysical surveys have been completed on these concessions, Carson will immediately begin additional geophysics and geochemistry with a view to outlining trench and drill targets.
 The common shares of Carson Gold Corp. trade on the Vancouver Stock Exchange under the symbol "CQG."
 -0- 11/01/93
 /EDITOR'S NOTE: A copy of the Carson Gold Corp. map of the Kilometre 88 Gold Mining District is available by fax by calling Canada NewsWire, Vancouver at 604-669-7764./
 /CONTACT: Eric V. Friedland, chairman & chief executive officer, 604-669-8871/
 (CQG.)


CO: Carson Gold Corp. ST: British Columbia IN: MNG SU:

EH -- LA039 -- 9234 11/01/93 14:41 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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