A recently signed letter of intent gives Victoria Resources (VSE) the right to earn a 100% interest in the West Hills copper-oxide property in Cochise Cty., Ariz.
Victoria can earn the interest by paying the vendors US$30,000 on signing; US$30,000 on the first anniversary; US$45,000 on the second anniversary; US$75,000 on the third to ninth anniversaries and US$90,000 on succeeding anniversaries.
Previous exploration on the property including trenching, sampling and test pitting, outlined a zone of copper-oxide mineralization measuring 3,500 ft. long by 200-1,200 ft. wide.
Victoria reports that a recent chip-sampling program over the area returned values of up to 1% copper at or near surface. Preliminary tests indicate the contained copper is about 90% acid soluble.
The company is now arranging financing for an initial exploration program on the property.
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