Freewest deals options on New Brunswick plays

Freewest Resources (TSE) has closed its office in Bathurst, N.B., but exploration on at least three of its holdings in that province will continue in other hands.

Inmet Mining (TSE) is earning a 60% interest in two of the land packages.

At the Willet properties, southwest of Bathurst, Inmet must spend $650,000 over four years and pay $300,000 cash to Freewest and third parties.

And at the Forty-four Mile Brook and Indian Lake properties, 60 km west of Bathurst, it must spend $400,000 on exploration and pay $150,000 cash.

Teck (TSE) can acquire Freewest’s Orvan Brook property by spending $200,000 on exploration and paying $100,000 cash. Freewest retains a net smelter return royalty of 2%.