Starrex recovers mine investment

All capital investments of Starrex Mining (TSE) in the Star Lake gold mine in northern Saskatchewan have been recovered and a 35% participating interest has reverted to Starrex, the company reports.

Starrex’s partners in the mine, which went into commercial production in January, 1987, are Saskatchewan Mining Development Corp. (50%), which acts as the operator, and Uranerz Exploration and Mining (15%).

Meanwhile, Starrex reports it has acquired control of substantial lithium reserves at Herb Lake in northern Manitoba. The company says it must make a commercial production decision concerning the deposit by October, 1990.