An agreement with Teck (TEK-T) and Atapa Minerals (ATAP-C) allows International Business Investments (IBI-C) to earn a 36% interest in the Teri zone gold property in Ontario’s Kirkland Lake gold camp.
To earn the interest, the junior must spend $850,000 on an exploration program, slated to begin next spring.
Previous work identified a geological resource of 43,000 tons grading 0.21 oz. gold per ton over a true thickness of 5 ft. The best intersection reported was 0.3 oz. over 10 ft. near the northern end of the zone, adjacent to a regional fault.
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