Cominco Ltd. has an option to acquire a 60% undivided interest in the Tulsequah area property of Silver Talon Mines in northwestern British Columbia.
Known as the Banker-Sparling prospects, the property (in which Silver Talon currently holds a 100% interest) is comprised of 14 crown- granted claims and 29 modified grid system claim units.
Cominco can earn its interest by spending $600,000 on the property before Dec 31, 1989.
From 1951 to 1957 Cominco operated in the property area and produced 1,029,000 tons of massive sulphide ores that yielded 94,254 oz gold, 3,440,000 oz silver, 13,000 tons of copper, 13,000 tons lead, 62,000 tons zinc and 227 tons cadmium from its Tulsequah Chief and Big Bull mines.
Cominco stopped production in 1957 because of low metal prices, and not because of depletion of ore reserves.
A phase one program operated by Cominco is set to start this summer.
Silver Talon says work it has done to date on certain of the prospect claims revealed an occurrence of silver-rich tetrahedrite and other metallic minerals in a veinswarm in silicified limestone.
It says mineralization is exposed in trenches for a distance of 20 m in a northwesterly trend.
Be the first to comment on "Cominco option from Silver Talon"