Commodity Online VANCOUVER: CanAlaska Uranium Ltd. (TSX.V – CVV has roped in Glass Earth Gold Ltd as a new exploration partner for its Rise and Shine gold project in Otago, New Zealand.
CanAlaska's New Zealand subsidiary, Golden Fern Resources Ltd, the pending holder under joint venture of the mineral licence covering the Rise and Shine shear zone, located north of Cromwell, New Zealand, has entered into an option agreement for the sale of a 70% ownership interest in Golden Fern in return for detailed project evaluation and exploration on the Rise and Shine project, including 4,000 metres of drill testing on favourable gold targets.
Additional terms of the agreement include progressive cash payments of $13,000 and the issuance of 200,000 shares in Glass Earth Ltd. to the Company over the course of the program.
Enter Currency Trading Contest now. Win $ 25,000President Peter Dasler commented, "the historic New Zealand gold rushes provided ample evidence of extensive gold mineralizing systems throughout the country. Modern gold mines in New Zealand are capitalizing on discoveries on unexplored ground, and CanAlaska's New Zealand property holdings cover significant areas of historic gold-producing camps. The Company had previously established operating partners for the Reefton gold project and, now, the highly prospective Rise and Shine property so as to allow CanAlaska to advance Rise and Shine and to concentrate more closely on its uranium exploration activities in Canada's Athabasca Basin.
(Courtesy: PRNewswire)
