BHP drills ground near Matagami

BHP Minerals Canada is carrying out additional drilling on Southern Africa Minerals’ (TSE) Cabre base metal property near Matagami, Que.

Previous drilling delineated two massive sulphide zones with a resource estimated at more than 1.2 million tons averaging 5.54% zinc and 1.31% copper, plus 0.01 oz. gold and 0.30 oz. silver per ton. The current 6,500-ft.-plus program is testing geophysical anomalies north of the original discovery.

BHP can earn 50% by spending $1.5 million on exploration over five years. It can earn an additional 20% by spending another $1.5 million in the following two years. Since, July, 1993, BHP has spent $900,000 exploring the property.