President Rene C. Mutsaerts of Bishop Resources Development (VSE) reports that two shipments of lead, zinc, silver and gold concentrate have been made from the Duthie mine and that the mill on the property operated well during the month of April.
Mining and milling operations have been suspended pending a geological review of the mine and an exploration program. Metallurgical studies are continuing with the objective of increasing metal recoveries from the ore.
Bishop holds a 50% interest in this property, subject to completion of the earn-in to 50% by a partner.
Plans for a merger between Bishop and Mintek Resources have been terminated and negotiations with respect to Mintek’s ongoing participation in the Duthie property are in progress, the company says. A private placement of 475,000 shares with attached warrants announced April 14 has been withdrawn.
Mutsaerts succeeds Victor Jones, who resigned as president and director. David Coote has been appointed secretary. Messrs. C. Smith and L. Roulston have also resigned as vice-presidents.
Bishop now holds the right to earn 100% interest in the Topley property near Topley, B.C., as Mintek has withdrawn from a joint venture on that property.
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