About 8,000 hectares of ground in a block 5×16 km was recently staked by Better Resources (VSE) near Williams Lake, B.C. The ground adjoins the large Fish Lake copper-gold porphyry deposit owned by Taseko Mines and Cominco.
Better plans to conduct a program of geochemistry, prospecting and geophysics on the property to identify drilling targets.
Chairman Cliff Rennie said the company is well funded with about $800,000 in cash and short-term investments.
Rennie hopes Taseko’s recent agreement with Cominco to start work on the Fish Lake deposit will stimulate exploration in the area. The Fish Lake project is estimated to contain a reserve of 201 million tons grading 0.24% copper, 0.015 oz. gold and 0.33 oz. silver per ton.
Better also owns a 100% interest in the Washington Mt. project on Vancouver Island.
Previous work on the property outlined preliminary reserves of 472,000 tons grading 0.26 oz. gold and 1.3 oz. silver. The deposit generally has a high arsenic content, however, and Rennie said the company does not have any work planned on the deposit this year.
The company did option a portion of the property called the Murex claims to Hilton Resources. Hilton, a private company planning to list on the Vancouver Stock Exchange, can earn a 50% interest in the property by spending $1 million over the next four years and issuing 100,000 shares to Better.
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