GIANT BAY <GBYLF> IN IDAHO GOLD VENTURE
Giant Bay Resources
Ltd said it signed an agreement in principle with Hecla Mining
Co for an operating joint venture on Hecla's Stibnite, Idaho,
gold deposit.
    Giant Bay said if its bioleaching technology is used for
ore processing, it will have the right to acquire a working
interest in the property. It said it may spend as much as three
mln U.S. dlrs, excluding capital costs to bring the mine into
production. It said drilling has indicated substantial sulphide
reserves with a gold grade of about 0.1 ounce a ton, and early
tests show the gold ore responds to bioleaching.

 Reuter
