A final and formal joint venture agreement was recently signed by BP Resources (TSE) and Lysander Gold (VSE) for ongoing exploration of the Cat Mountain project, north of Prince George, B.C. Cat Mountain is an alkalic gold- copper porphyry prospect that was explored by Lysander in 1989 with encouraging results.
BP will become operator of the joint venture with a 53% interest, while Lysander will own 47% in the joint venture claims encompassing about 31 sq. km. A 2-phase exploration program is planned for 1990 which will include continuing geological and geophysical work plus extensive diamond drilling.
Lysander retains a 100% interest in the nearby BET claims, as well as 100% of several claims totalling 21 sq. km adjoining the joint venture ground to the north.
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