While Octan hasn’t revealed yet what it paid for the assets, the company is proceeding with a 6,000-ft drilling program. It will concentrate on water targets to take advantage of ice drilling platforms.
“We will also be drilling to define the reserves near exploration hole B-88-6,” said President Martin Burger. The hole included an 8-ft intersection that assayed 133.4 oz silver per ton.
The winter program is financed through a $585,000 flow-through private placement with NIM Resource — 1988 and Co. Ltd.
Before the Camsell River mine was mothballed in 1985, Terra produced 216,749 oz silver in the first three months of that year.
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