The proposed agreement will also permit additional gold mining properties to be jointly pursued and placed into production over the next several months as promising mining opportunities are identified and secured.
The company expects that this joint-venture agreement with Western Sierra will be completed and signed within the next week.
The companies chose the Gold Basin Mine as their first joint-venture project due to the mine being ready for immediate gold production.
The Gold Basin Mine is made up of 332 acres of claims located in central Arizona, approximately twenty miles south of Prescott on Prescott National Forest land.
A plan of operations and stipulations has been approved, and the authorization to commence operations has been issued by the US Forest Service.
