In addition to acquiring a listing on the Vancouver Stock Exchange, Pathfinder Resources has begun exploring the Joy copper-zinc property near Red Lake, Ont.
The junior can earn a 25% stake in the property from Major General Resources (VSE) and a unit of Noranda (TSE).
A drilling program in 1993 uncovered a volcanogenic massive sulphide body. The best intersection to date averaged 2.26% copper and 1.81% zinc over 4.2 metres.
Subsequent drilling in 1994 expanded the mineralized and altered zone to 300 metres vertically and 300 metres along strike.
A surface pulse electromagnetic survey is being carried out as a prelude to further drilling (1,000 to 2,000 metres) by Noranda.
Feds sell stake in Cameco to public
A syndicate of underwriters will buy the remaining 3 million common shares of Saskatoon-based Cameco (TSE) held by Canada Eldor, a federal government entity.
The underwriters will, in turn, sell the shares to the public at $30.75 each. The sale is expected to close Feb. 9.
Currently, there are more than 52.2 million shares outstanding. Following the sale, the public will hold 70.3% of the outstanding shares while the Saskatchewan government will hold the remaining 29.7%
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