Ranger Gold Corp., a resource exploration company exploring for gold in proven gold regions in Nevada, recently announced an update on its corporate activities. Focused on discovering and developing low-cost gold assets in order to provide maximum return for its shareholders, Ranger Gold Corp. entered into an agreement with MinQuest, Inc. to acquire the CX Property located in Nye County, Nevada on November 29, 2009.
The CX Property consists of 72 unpatented mineral claims covering six epithermal gold-silver targets that include a minimum of two other major gold-silver mines with combined production and reserves of several million ounces. Under the terms of the agreement, Ranger Gold Corp. has the right to earn a 100 percent interest by making certain annual property option payments and by accruing minimum exploration expenditures.
Gary Basrai, president of Ranger Gold Corp., stated, “We believe the potential for the CX Property is significant, and plan on carrying out an exploration program in the near term.” Mr. Basrai continued, “We are also currently examining a number of other assets in Nevada and hope to make further additions to our portfolio.”