An agreement has been reached between Better Resources and Fording Coal which will allow the former to explore Fording’s uncommitted base metal mineral holdings in the Mt. Washington area on Vancouver Island. The land package comprises some 8,600 acres and after two years of exploration Better has the option to lease selected areas for production.
Better already holds the gold and silver rights and is preparing an accelerated drill program to expand reserves on the property. Total drill indicated reserves now stand at 235,900 tons grading 0.23 oz gold and 1.15 oz silver. There are also significant low grade reserves in the West Grid area which are partially available by open pit mining methods.
A preliminary calculation of mineable reserves in the Lakeview West grid area suggests there are 158,000 tons grading 0.19 oz gold and 0.95 oz silver. These would be available at a 6.6 to one strip ratio. The company is presently constructing an access road in preparation for the drill program.
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