Geophysical anomalies on the Captain base metal property 50 miles south of Bathurst, N.B., will be the target of a 1-rig drilling program by earn-in partner Consolidated Rhodes Resources (VSE). Rhodes can earn a 60% interest in the property from Stratabound Minerals (ASE) by making cash payments of $100,000 and spending $1 million over a 3-year period.
The Captain property is within the Bathurst Mining camp, 13 miles south of Brunswick Mining and Smelting’s (TSE) Brunswick No. 12 lead-zinc mine. The Captain deposit, containing reserves of 197,220 tons grading 2.12% copper, lies within the property boundaries.
Two geophysical (IP) anomalies that lie along strike and to the south of the Captain deposit will serve as Rhodes’ initial drilling targets. Rhodes has contracted Prime Equities to provide management and contracting services for the project.
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