Euralba Mining, an Australian company, has been granted an extension on an option agreement by Fleck Resources (VSE). Under the terms of their new agreement, Euralba has the right to exercise its right to acquire a 51% interest in Fleck’s Marathon platinum group metals property by Nov 30, 1990.
Work by Euralba this year included power stripping and channel sampling in order to determine the continuity of surface mineralization. Concentrate from bench tests and pilot plant tests completed in 1986 and 1987 are being shipped for pilot smelter testing.
In Minnesota, Fleck holds rights to a property hosting very low- grading copper-nickel reserves totalling 190 million tons. Copper and nickel grades average 0.43% and 0.096% respectively to a depth of 800 ft.
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