ROYAL GOLD ANNOUNCES NEW EXPLORATION PROGRAM IN CRESCENT VALLEY, NEV.
DENVER, July 28 /PRNewswire/ -- Royal Gold Inc. (NASDAQ: RGLD) today announced that it has acquired the rights to explore, develop and mine a 2,500 acre claim block located in the Crescent Valley, Lander County, Nev. The claims are approximately four miles south of the recently discovered Pipeline and South Pipeline deposits. Under the terms of the mining lease with ECM Inc., of Billings, Mont., Royal Gold will maintain the claims, and may continue to hold the claims by conducting a minimum exploration program of $50,000 and paying advance minimum royalty payments. The mining lease is cancellable by Royal Gold at any time. Royal Gold is actively exploring for gold in Nevada. Royal Gold's chairman, Stanley Dempsey, said, "We are pleased about the opportunity to acquire and explore additional ECM-owned ground near South Pipeline." Royal Gold is a Denver-based, publicly held corporation. The company is engaged in the gold and other precious metals business, primarily through joint ownership arrangements, and in the acquisition, exploration, development and sale of gold properties. In addition to a 20 percent net profits royalty interest in the South Pipeline Project, Royal Gold has one gold project in Nevada that is being explored by Newmont, one project in Arizona and one in California. -0- 7/28/93 /CONTACT: Stanley Dempsey of Royal Gold, 303-573-1660/ (RGLD)
CO: Royal Gold Inc. ST: Colorado IN: MNG SU:
BB -- DV003 -- 7305 07/28/93 12:13 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Jul 28, 1993|
|Previous Article:||ENVIRONMENTAL GROUPS ASK CONGRESS TO PROTECT CAPTIVE MARINE MAMMALS|
|Next Article:||FLORIDA STATE COMPTROLLER ANNOUNCES CREATION OF TASK FORCE TO REVIEW OPERATIONS OF MONEY TRANSMITTERS IN FLORIDA|