COTUI, Dominican Republic PLACER DOME EXPLORATION and LINEAR GOLD of Halifax have reached an option agreement covering Linear’s Ampliacion Pueblo Viejo property adjacent to Placer Dome’s Pueblo Viejo project in central Dominican Republic. Placer Dome may earn a 52.5% interest in the Ampliacion Pueblo Viejo property by paying Linear US$775,000 and undertaking US$4,000,000 of exploration on the property over the next 3 years. Upon earning a 52.5% interest, Placer Dome has a further three-year option to increase its interest to 62.5% by incurring all exploration costs to a feasibility stage and completing a bankable feasibility study. Linear will be operator during the first year of exploration.
Placer Dome’s Pueblo Viejo is an epithermal gold and silver deposit believed to contain over 16 million oz of gold in indicated resources of 159.5 million tonnes grading 3.3 g/t Au. Resources are estimated at an indicated 159.5 million tonnes at 3.3 g/t Au. A feasibility study and metallurgical testing is underway.
Details of the Ampliacion Pueblo Viejo project are available at www.lineargoldcorp.com.