Posted in | News | Gold | Mining Business

Minco Base Metals Enters Agreement to Acquire QR Placer Gold Project

Dec 10 2015

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Minco Base Metals Corporation is pleased to announce that it has entered into a Property Purchase Agreement with A. WOB Holdings to acquire the QR placer gold project  located near Quesnel, British Columbia.

The QR Project is comprised of one placer lease and 15 placer claims covering a 5.16 km2 area along the Quesnel river. The Company paid the purchase price of $880,000 for the QR Project and the placer lease and claims have been transferred to the Company.

The Company conducted a detailed sampling program on the QR Project during September-November 2015, including 20 bulk testing pits and 11 normal testing pits. A WOB Holdings has operated a small placer gold production on the QR Project for the past seven years. The Company intends to begin a large scale placer gold production in Spring 2016 and is in the process of applying for all required permitting and licenses for such operation.

Source:

http://www.mincogold.com/

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