EXPLORATION 1997 — Lithos joins with Hebron Fjord Res. to test gold-copper project in Peru

Montreal-based Lithos (LTS-M) has acquired an option on a Peruvian gold-copper property held by Hebron Fjord Resources (HEF-M).

The Salaverry-Copara deposit is known to contain a total resource of 1.5 million tonnes grading 11.2 grams gold per tonne and 2.12% copper. Within that resource are proven reserves of 110,061 tonnes grading 12.6 grams gold and 2.77% copper, as well as probable reserves of 223,682 tonnes grading 10.3 grams gold and 1.8% copper.

Lithos can acquire half of Hebron Fjord’s interest in the property by paying US$1.8 million over three years. During that same period, the two companies must spend US$500,000 per year each on exploration and a prefeasibility study.

The partners are following up previous work done on the property.