Curator drilling to expand Boleo deposit

Toronto-listed International Curator Resources is proceeding with an expanded drilling program on its Boleo copper-cobalt project in Mexico.

The announcement follows completion of a private placement of 3.9 million special warrants at $2.50 each.

The program will include 200 holes for a total of 20,000 metres. Copper-cobalt mineralization is sediment-hosted within a series of relatively flat-lying beds which extend for considerable lateral distances.

Two rigs are expected to arrive in early July, whereupon infill drilling will begin on the Saturno-Mercurio area. Drilling to date in this area has outlined a potentially open-pit resource of 61 million tonnes grading 0.81% copper and 0.07% cobalt.

Two additional rigs will arrive in early August, to be employed in areas where reserves are believed to exist but where little or no drilling has been done.

Curator’s goal is to expand the existing resource of 167 million tonnes grading 1.25% copper and 0.075% cobalt.

The company can acquire a 100% interest in Boleo subject to a 3% net profits interest in the first three years, increasing to 9% from years four through six and 18% thereafter.

The property deal includes several purchase options, the least expensive of which includes US$2.2 million for 20% by Feb. 15, 1996, plus US$18 million for the balance.