Bitterroot lands Michigan copper play

An option agreement with Copper Range, an 80%-owned subsidiary of Inmet Mining (TSE), gives Bitterroot Resources (VSE) the right to explore more than 100 sq. miles in Michigan’s Keweenaw Peninsula.

In return, Bitterroot must issue 200,000 shares and provide a 1% net smelter return royalty to Copper Range.

Michael Carr, president of Bitterroot, says the option gives his company access to a prolific but underexplored copper camp.

Bitterroot plans to carry out prospecting, mapping and sampling on the ground package, which includes more than 70 miles of prospective strike length.

If Bitterroot completes a prefeasibility study there, Copper Range can back-in for a 51% interest by delivering a bankable feasibility study.