Teck (TSE) has resumed drilling on Greenstone Resources’ (TSE) Tache Lake property at Chibougamau, Que., where the partners made a zinc-gold discovery earlier this year.
Teck is earning a 60% interest in the property by spending $1.5 million on exploration and making certain cash payments to Bitech (ASE). Greenstone will retain a 40% interest.
Teck will drill three holes to test the downdip extensions of a wide stringer zone which could represent the feeder system of a massive sulphide deposit. A previous, 9-hole program to follow up surface showings of the east zone intersected mineralization to a depth of 500 ft. Hole 7 encountered 7 ft. of semi-massive mineralization grading 5% zinc with associated gold values. Hole 9 intersected the stringer sulphide zone over 127 ft.
In a bid to tie up more ground around the discovery, Teck has taken an option to earn a 51% interest in the Beltac claims of Greenstone and Soquem, which adjoin the Tache Lake property to the east.
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