Multinational Resources Inc. (U.S.), a wholly-owned subsidiary of Multinational Resources Inc., Vancouver, will participate in the first major offshore test for heavy mineral sands, off the mouth of the Columbia River near Ilwaco, Wash.
Multinational has signed an agreement on the project with Columbia Ocean Minerals Inc., a newly-formed U.S. exploration group. The aim is to drill test a high-grade 1,000-acre heavy mineral deposit in the area.
Other partners in the venture include Shupe Energy Development Co. of Bellevue, Wash., and East Pacific, Inc., also of that state.
Drilling was to have started this month, weather permitting. Columbia says there may have been deposited as much as 840 million tons of heavy mineral sands in an anomaly identified by aerial magnetometer survey under 60 ft of Washington state Pacific Ocean waters.
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