Gelum signs exploration agreement for El Dorado gold project in B.C.

B.C.-focused explorer Gelum Resources (CSE: GMR) has entered an exploration agreement with the Bridge River Indian Band (Xwísten) that will provide the […]
Sampling crew north of Lucky Jem prospect, El Dorado project. Credit: Gelum Resources

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B.C.-focused explorer Gelum Resources (CSE: GMR) has entered an exploration agreement with the Bridge River Indian Band (Xwísten) that will provide the company access to its tenures for exploration activities leading to the completion of a bankable feasibility study.

The agreement covers the company's El Dorado project and falls under the multi-year area-based work permit (MYAB) described in the project's existing exploration agreement. It also covers exploration within the St’at’imc territory, in which Xwísten and its members exercise constitutionally protected aboriginal title and rights.

According to Gelum, this agreement further covers the relationship between the Xwísten and the company in governing the principles of good faith, mutual respect, transparency and accountability in all dealings between the parties.

“This Agreement brings to Gelum an ability to develop the El Dorado project with the co-operation and help of the Xwísten, and is the result of discussion and agreement over the past year that have been both productive and enlightening," said David Smith, president of Gelum.

At the El Dorado property, Gelum is exploring for high-grade, orogenic gold-sulphide vein systems and has identified as many as five high-priority geochemical targets. These will be the focus of a geophysical campaign this year, followed by a planned 3,000-metre drilling campaign in the summer.

The most recent drill program on the property dates back to 2011, which was also the most successful, in that every hole hit multiple intersections of over 1 g/t gold, despite not targeting specific, measured gold mineralization at surface.

More information on Gelum and its exploration in B.C. can be found at www.gelumresources.com.

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