news
Encore Renaissance options 60% of Bonaparte property
2009-04-14 16:06 ET - News Release
Mr. Michael Mulberry reports
ENCORE RENAISSANCE RESOURCES CORP. ACQUIRES OPTION ON HIGH GRADE BC GOLD MINE PROPERTY
Encore Renaissance Resources Corp. has acquired an option to purchase a 60-per-cent interest in the Bonaparte mine property located approximately 35 kilometres north of Kamloops, B.C., for the payment of a total amount of 20 million shares and $7-million over the next two years in staged payments and the incurring of expenditures to take the property into production.
Encore will also undertake as part of its option to acquire its interest in the Bonaparte gold mine property, the permitted 10,000-tonne bulk sample, initially by decline underground mining from surface, of the same vein material that was bulk sampled in the 1990s.
As reported by Shaun Dykes of Geologic Systems Ltd. in his report entitled, "Status report -- Bonaparte gold property," November, 2003, the sample consisted of approximately 3.425 tonnes with a recovered grade of 26 grams per tonne gold (0.75 ounce per ton) from the surface trace of one of the over 13 identified vein systems on the property.
The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try, click here for a free 30 day trial subscription.