Homestake drilling Kamad Silver property (December 18, 1989)

According to Kamad Silver (VSE), previous work by Esso Minerals resulted in the delineation of about 220,000 tonnes of 7.36 g (0.21 oz) gold, 69.19 g (2.0 oz) silver, 7.32% zinc, 6.19% lead and 0.54% copper.

Homestake recently assumed Esso’s option agreement with Kamad Silver which allows the Kamloops-based junior to retain a 49% interest in the property. If Kamad elects not to participate in the joint venture, it will receive a 3% net smelter royalty and/or a 15% net profits interest (whichever is greater) from any future production from the property.

Homestake plans to drill about 4,500 m during the current program.

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