Bethlehem leases Poison Mountain

Copper-miner Bethlehem Resources (TSE) recently reached an agreement-in-principle with Lac Minerals (TSE) to lease (with an option to purchase) the Poison Mountain copper-gold-molybdenum property north of Lillooet, B.C.

Bethlehem is responsible for carrying out assessment work on the property and, at its option, can terminate the lease or purchase a 100% interest in the property for $3 million plus a 1.5% net smelter royalty. Exploration at Poison Mountain since its discovery in 1956 has identified two zones of mineralization, one of which contains a preliminary reserve of about 280 million tonnes grading 0.31% copper and 0.14 grams gold per tonne. Bethlehem sees excellent potential in expanding reserves through further exploration.