Southern Rio gains BC foothold (November 26, 2001)

Shifting its focus from South America to precious metal properties in Canada, Southern Rio Resources (SNZ-V) has inked a deal to acquire the Duke copper property, 30 km west of Merritt, B.C.

In return, the Vancouver-based junior must pay $5,400 in cash to privately held Kleinebar Resources and issue 50,000 shares at 10 per share.

The property, which is mostly covered by glacial material, covers an outcropping copper occurrence hosted by quartz-feldspar porphyry and mafic volcanic rocks. A dozen holes in the 1960s returned several shallow intersections, including 0.55% copper over 51.8 metres, 0.63% copper over 57.9 metres, and 0.61% copper over 33.5 metres. The core was not assayed for molybdenum or gold.