Klondike Gold entered into the agreement to further explore and develop the Indian River mining project, under which the placer gold property lies within the Indian River Valley, near Dawson City, Canada.
As part of the agreement, 46799 Yukon will provide the equipment and initial capital to the JV while Klondike Gold will provide the property and an extensive exploration database.
Both companies will have a 50% participating interest each in the JV and ongoing operations.
The JV partners have created an operating company to operate the mine under the supervision of a placer-mining team appointed by them.
Two Caterpillar D9N bulldozers will be used to prepare material, which will be loaded to 50-ton trucks by 50-ton excavators.
Other equipment used at the project include EL-Jay MRS200 Metal Recovery System powered by a 5.9l Cummins diesel engine as a primary unit, and a Rotary Screw Gold Machine 200 Fine Gold Recovery unit.
Only 10% of the 188 claims permitted to be mined will be initially mined by the JV partners.
