Two gold occurrences on the La Salle II concession in Bolivar state, Venezuela, will be drilled as part of a project managed by Chesbar Resources (ME).
The company is amassing a land position in the state’s Anacoco gold mining district.
Besides the La Salle II concession, Chesbar is doing trenching and surface sampling on gold showings in La Salle I, in which it can earn an 80% interest.
Meanwhile, the company has acquired the Venezuelan company that holds the mineral rights to two concessions north of the La Salle project, Guaiquinima II and Anacoco II. Both Guaiquinima and Anacoco have gold occurrences on the strike of a 6-km structure.
In Arizona, Corner Bay Minerals (TSE) has started reverse-circulation drilling on the Korn Kobb copper prospect 35 miles northeast of Tucson. Korn Kobb is an oxidized, porphyry-type copper deposit with preliminary resources of 28 million tons grading 0.41% copper.
Corner Bay expects the planned 20,000 ft. of drilling will upgrade the resource into minable reserves. It also plans geology and ground geophysics around other copper showings on the property. Gold Giant Minerals (VSE) can earn a 49% interest in the property by financing US$1 million and making cash payments to Corner Bay.
An agreement among Corner Bay, joint-venture partner Roycefield Resources (ASE) and Teck (TSE) will see Teck assume a 100% interest in the Tetagouche Lake lead-zinc property in the Bathurst area of New Brunswick. Corner Bay and Roycefield retain a 2.5% net smelter return on production from the property.
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