WICKENBURG, Ariz., Sept. 6, 2013 /PRNewswire/ -- Focus Gold Corp. (FGLD) is pleased to announce a Memorandum of Understanding (MOU) with Alix Resources Corp. (ARXRF) which will see the respective companies pool their geological records and relevant resources to push forward the exploration and development time lines for their respective gold projects located in Yavapai county in the Wickenburg area of Arizona.
Focus Gold has entered into a Letter of Intent (LOI) to purchase the former producing Water-Sunset Gold Mine. Significant capital has been invested over the years on engineering and development yielding several hundred ounces of gold. It is the venture's intent to commence a drill program to explore the known vein structure leading to a feasible mining plan. The Water-Sunset Gold Mine is a grandfathered mine site that has 2 patented claims, sufficient required water rights and an 80 ft. mine shaft. The mine was in limited production as recently as the 1990's.
The "WS Homestake Mine" is home to the former producing mines Homestake, Big Stick and Water Sunset, and encompasses almost two thousand acres. Historical records relating to these mines are host to over 300,000 ounces of proven gold and many thousands more probable.
Focus Gold CEO Gordon Lee states, "We look forward to contributing our personnel and our extensive resource of geological data here in Arizona to create a project leading to an eventual ongoing mining plan."
Gordon F. Lee
928-684-2737 or 928-684-5065
SOURCE Focus Gold Corporation