Black Hawk deal

Black Hawk Mining Inc. (TSE) has entered into an agreement with Lodi Metals (VSE) which gives Black Hawk the right to earn a 55% interest in Lodi’s graphite property near Smith Falls, Ont. Black Hawk can earn the interest by spending $1.25 million on the property by Sept 1, 1991.

Work by Lodi has outlined a drill- indicated and inferred reserve of one million tons grading 8% graphite. Potential remains for increasing reserves, Black Hawk says.