Delaware moves on exploration

Exploration work is proceeding on schedule at Delaware Resources’ Snip project north of Stewart, B.C. The first of two diamond drills is on site and initial drilling will test anomalies which are located 2,400 ft west of last year’s program. Systematic drilling of the main mineralized zones is anticipated shortly with the second drill, says the company.

Delaware has concluded an agreement in principle to pool its Iskut River mineral properties with those held by American Ore and Golden Band Resources. The pooled land holdings will exceed 12,000 acres and are contiguous to the north of the Delaware/Cominco SNIP project. American Ore and Golden Band each have the right to earn a 33.3% working interest through the expenditure of $400,000 each. Delaware holds the remaining one third interest and is carried for the first $800,000. An aggressive exploration program is planned for the 1987 season, says Delaware.