The joint owners of the Goldstream mine can earn a half interest in the Cottonbelt massive sulphide property of CanQuest Resource (CDN). Both properties are in British Columbia’s Revelstoke district.
Bethlehem Resources (TSE) and Goldnev Resources (VSE) can acquire the interest by completing a bankable feasibility study, financing the project to production and refunding half of the costs incurred by CanQuest prior to the exercise of the option.
Previous work outlined a geological reserve estimated at 725,000 tonnes grading 11% combined lead-zinc and 1.6 oz. silver per tonne. The partners will advance CanQuest $250,000 so that delineation drilling on Cottonbelt can get under way.
CanQuest is making a $1.6-million public offering of 1.5 million flow-through units and 1.5 million non-flow-through units.
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