Corona expands position in Tigris B.C. claim group

Expanding its already sizeable land position on Nickel Plate Mountain near Hedley, B.C., Corona Corp. (TSE) has assumed Lacana Mining’s interest in the large claim group held by newly-formed Tigris Minerals (VSE). Lacana recently became part of Corona Corp. which operates a large open pit gold mine on Nickel Plate Mountain.

The Tigris property was staked in 1979-80 by the D’Angelo family of Princeton which later sold their interest to Primont Resources but re-acquired the property in 1985. Primont completed a grassroots program and Placer Dome held the ground under option from 1984-86.

Placer outlined several drill targets and completed a limited diamond drilling program before dropping its option in 1986. Lacana entered the picture in February, 1987, and spent over $221,000 on the property, some of it on drilling. Approximately 3,842 ft of drilling in 11 holes was completed by Lacana and two holes cut skarned volcanics and extensive sulphide mineralization with anomalous gold values.

Corona will be spending $5 million on its Hedley area properties this year, including the Golden North property where over 200 line miles of grid work has been completed. This grid system will be tied into the Tigris ground where IP and other survey work is planned this season. Results from IP, geochem, and geological survey work will enable Corona to complete either a trenching or drilling program on the Golden North and Tigris properties. Up to $300,000 could be spent on the Tigris property this year, says Corona.

Corona is the largest landholder on the mountain and the company is making a major effort to extend the mine life of its Nickel Plate mine.