As operator, Teck can earn a 50% joint venture interest in the 4,500- acre property from Eureka Resources (VSE) by spending $600,000 over three years.
The claims cover the exposed portion of the Iron Mask Batholith, the host rock of several known porphyry copper-gold deposits nearby. Three zones of interest have been outlined on the property to date.
The $75,000 drill program will test the Frederick zone to depths of 200-260 ft by 15 to 20 holes. The Frederick zone has been delineated on surface over a strike length of 3,600 ft and width of 820 ft.
Although the area of interest is covered by deep glacial overburden, the southwest corner is exposed in outcrop. Eureka noted that samples collected in this region indicate grades of ” 0.2-2.5% copper and 0.01-0.04 oz gold.”
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