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Vancouver-based Kent Exploration joins in Reefton gold exploration
26 June 2009 - Vancouver-based exploration company Kent Exploration has joined with another Canadian company, CanAlaska, to take a major interest in a Reefton gold exploration project.
CanAlaska said Kent Exploration would acquire a 70% interest in the 14,060 hectare exploration permit, EP 40677, on the Reefton goldfield on the West Coast of the South Island.
Kent has entered into a 5 year option agreement with CanAlaska, which calls for Kent to spend Cdn$3.5 million (or approximately NZ$4.8 million) over 5 years on exploration.
The Reefton property extends from approximately 3 km to 20 km south-west of the town of Reefton.
CanAlaska said the Reefton project was presently non-strategic to the company, which was currently focussing on uranium exploration efforts in the Athabasca Basin of northern Canada.
Sources: CanAlaska, Kent Exploration and Lindsay Clark
