Bulk Sample Planned for B.C. Gypsum Project

By year-end, Queenstake Resources (TSE), Haines Gypsum (VSE) and new joint venture partner Prospector Airways (VSE) expect to have mined and delivered a 50,000 tonne bulk sample of gypsum from the O’Connor River property near Atlin, B.C.

Prospector Airways recently entered into a letter of intent with the two companies that will enable it to earn a 51% undivided interest in the property by incurring expenditures of $1.2 million before Oct 30, 1989. The O’Connor River property, located 11 km west of Kusawak Lake near Chilkat Pass in northwestern British Columbia, is reported to contain significant high grade gypsum deposits.

Gypsum, used primarily in the wallboard and plaster industries, has several other applications from fertilizer to pharmaceutical and food uses. Haines Gypsum says that lucrative markets exist for the O’Connor River gypsum because of its consistent grade and color.