While it is best known for its exploration initiatives in Southeast Asia, International Pursuit (TSE) is broadening its exploration scope to include other prospective areas within the Pacific Rim.
Toward this end, the company is acquiring privately owned Minfocus International, which holds interests in properties found in the Finlayson-Wolverine belt, situated in the southern Yukon.
Minfocus’s properties are near a recent drill hole discovered by Westmin Resources (TSE) and Atna Resources (VSE), and an earlier polymetallic discovery by Cominco (TSE). The latter consists of 13 million tonnes averaging 5.5% zinc, 1% copper and 1.3% lead, as well as 125 grams silver and 1.2 grams gold per tonne. Both discoveries are volcanogenic, massive sulphide deposits.
Some of Minfocus’s properties feature geophysical anomalies that will be drill-tested this winter.
Pursuit can acquire the company by exercising options to buy all its treasury and issued shares. The total cost to Pursuit would be $2.3 million.
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