Share Mines and Oils says it has been advised by the Saskatchewan Mining and Development Corp. (smdc) that smdc is discontinuing exploration work on the Hamson Lake, Sask., base and precious metals property held 50/50 by Share and Western Nuclear Mines.
The property will be transferred back to Share and Western, under the terms of the farm-in agreement with smdc, made in January, 1984.
Mineral lease 5056 on the property hosts the former-producing Hanson Lake mine, while lease 5053, about six miles northeast of the original Hanson Lake mine, contains the Quandt mineral deposit, which Share has said has drill indicated reserves of 814,646 tons, grading 21.15% copper, 1.77% zinc, 0.203 oz silver and 0.003 oz gold per ton.
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