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BCGold Corp. Signs Agreement With Solid Holdings Ltd. to Develop and Operate Engineer Mine
Marketwire - Sun Mar 03, 7:28AM CST
BCGold Corp. (TSX VENTURE: BCG)(PINKSHEETS: BCGOF)("BCGold" or the "Company") is pleased to announce it has signed a Letter of Intent ("LOI") with Solid Holdings Ltd. ("Solid") whereby Solid will finance and construct a minimum 30 tonne per day turn-key mine, mill and gold refining operation (the "Engineer Mine") at BCGold Corp.'s historic Engineer Mine property, situated 32 km west of Atlin, British Columbia. Within a 3 year time-frame Solid is required to produce a minimum of 10,000 ounces of gold, with 1,500 ounces to BCGold's credit, on a gross-sale basis from the Engineer Vein on 6 and 7 Levels of the underground mine workings. Upon completion of these provisions, Solid may elect to acquire a 50% interest in the Engineer Mine by way of a joint venture agreement ("JV") with BCGold Corp. (see Proposed JV Terms below).