Engold MinesLtd., formerly GWR Resources Inc., signed a 50/50 joint ventureagreement with Pacific EmpireMinerals Corp. to explore the former's Red Claim and certain othersurrounding claims prospective for copper discovery held by Engold and PacificEmpire.
The claims subject to the JV are on a southwest portion ofEngold's Lac laHache copper-gold property in British Columbia.
Under the terms, each party is contributing mineral claimswhich will be held 50/50 by the JV partners, according to a July 7 release.
Pacific Empire contributed claims comprising 1,314.54hectares surrounding the Red Claim while Engold's contribution totals 868.25hectares, including the Red Claim.
The deal does not require any party to make cash payments orwork commitment. Meanwhile, work programs and budgets will be subject to theapproval of the partners.