Cogema options Beekeeper

A recent joint venture agreement allows Cogema Canada to earn a 50.2% interest in Eastfield Resources’ (VSE) Beekeeper property, an early stage copper-gold prospect in north-central British Columbia.

Cogema can earn its interest over four years by making payments totalling $100,000 and spending $1 million on exploration.

A limited partnership managed by Imperial Metals (TSE) will exercise a buyback right and purchase a 24.9% interest in the property from Eastfield for $37,000.

This year’s exploration program will further test a large altered and mineralized complex of mafic volcanic and alkalic intrusive rocks outlined during a previous exploration program. Previous drilling of this target returned 50 ft. grading 0.1% copper and 0.064 oz. gold per ton, and 150 ft. of 0.15% copper and 0.01 oz. gold.