Shareholders of Regional Resources (RGL-T) have approved the company’s proposed merger with Imperial Metals (IPM-T).
Regional’s principal asset is the Midway project, an advanced-stage silver-lead-zinc property in the Watson Lake district of northern British Columbia. Minable reserves are estimated at 1.4 million tonnes grading 317 grams silver per tonne, 5.8% lead and 8.3% zinc.
In October, Imperial bought the remaining 17.85% interest in Midway from a Calgary-based energy firm for $400,000 cash.
Imperial also has a 55% interest in the Mount Polley gold-copper porphyry project near Williams Lake, B.C., where startup is scheduled for late 1997.
Regional has cash and cash equivalents in excess of $4.7 million.
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