ASAMERA <ASM> TO FORM NEW MINING UNIT
Asamera Inc said it will
transfer all its mineral interests into a new wholly owned
subsidiary, Asamera Minerals Inc, which will later issue up to
15 pct of its shares to the public.
    The mineral interests will include Asamera's 51 pct
interest in the Cannon gold mine in Wenatchee, Wash. Asamera
said the mine produced 116,514 ounces of gold in 1986 and is
expected to produce 130,000 to 140,000 ounces this year.
    Asamera said its talks with Breakwater Resources Ltd
<BWRLF> on a possible merger of mining interests, including the
Cannon mine, have been terminated. It did not elaborate.
     
    Asamera said holding all its mineral properties in a
separate company will give better and more direct recognition
to the value of the assets.
    Its other mining interests include gold exploration
prospects on 13,000 acres in Inyo County, Calif., and 500,000
acres in Canada's Northwest Territories, the Gooseberry gold
and silver mine in Nevada, chromite properties in northern
California and Newfoundland, and a platinum prospect in the
Rankin Inlet, Northwest Territories.
                                                               
        
 Reuter
