Plateau Mineral Development has executed a joint venture (JV) commitment agreement with Homestead Gold Tonapah to develop Homestead's stake in the St. Kevin Mine in Colorado, US.

Under the terms of the agreement, Plateau Mineral will undertake a comprehensive two year drilling program on the site which will be extended to the proven gold and silver reserves.

The reserves are valued approximately at $1bn.

The Saint Kevin Mine is located approximately 7 miles northwest of Leadville and 3346 meters above sea level.

Homestead Gold Tonapah is a subsidiary of Homestead Gold and Silver Corp.