An exclusive option has been granted to Redfern Resources (TSE) to acquire the 60% interest of Cominco (TSE) in the Tulsequah Chief massive sulphide project in northwestern British Columbia. Redfern, which was also given the same option to acquire all of the major’s interest in the Big Bull property and certain surrounding claims, owns the other 40% interest in the Tulsequah Chief precious and base metal play. Prior to it exercising the option, Redfern said it proposes to market an interest in the properties on terms to be negotiated.
Preliminary reserves at Tulsequah Chief stand at 8 million tons grading 1.55% copper, 1.23% lead, 6.81% zinc, 0.08 oz. gold and 3.19 oz. silver per ton, Redfern said.
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