NEWS ROUNDUP — Hungry Hill deal nixed

The Hungry Hill option agreement between equal partners Celtic Minerals (CME-A), Jilbey Explorartion (JLB-M) and Rio Algom (ROM-T) has been terminated. The agreement covered 292 claims totalling 7,300 ha of copper-lead-zinc-gold-silver prospects in central Newfoundland.

Meanwhile, 30 km east of that property, drilling was recently completed by Billiton at Buchans Junction, another Celtic-Jilbey, copper-lead-zinc-gold-silver property. Assays are pending.

Billiton can earn up to a 70% interest in the property by spending $2 million on exploration and paying a total of $50,000 to Celtic and Jilbey.