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Sunvest taps IDM for technical support at Clone gold property

Sunvest Minerals Corp. inked a letter of intent with IDM Mining Ltd., under which the latter will assist the company with technical and geological expertise, as well as logistical and community guidance for the Clone gold property in British Columbia.

IDM is a leading exploration and development company in the Golden Triangle region of British Columbia, with the Red Mountain gold project located just to the north of the Clone property.

The companies will now pursue a definitive agreement for the provision of certain geological, technical and other general support services.

Sunvest will be required to pay a monthly retainer fee and the agreed upon fees in connection with each scope of work and services requested. In addition, the company will also grant IDM certain rights of first refusal.

"We look forward to an active field season to begin shortly, with beneficial contributions and exploration efficiencies through this agreement with IDM," Sunvest Minerals CEO Mike England said in a June 4 release.