Having completed a limited amount of drilling on the Poplar property near Houston, B.C., New Canamin Resources (VSE) has decided to drop its option and concentrate on its Huckleberry property 25 miles east of Kemano, B.C.
New Canamin is earning a 100% interest in the Huckleberry from Kennecott. Kennecott can back in for a 60% interest by paying 150% of expenditures in excess of the $1.5 million required under New Canamin’s option. Previous work on the Huckleberry outlined a preliminary reserve of about 85.6 million tons grading 0.40% copper.
New Canamin is interested in the potential for outlining a high-grade core within current reserves on the property. Previous drilling includes a number of long intersections from surface, including 240 ft. grading 0.90% copper and 480 ft. grading 0.78% copper.
The company is planning a 10,000-ft. drill program.
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