A program of diamond drilling and geophysical surveying is being planned by Galico Resources (VSE) for the Metla property 15 miles northwest of the Golden Bear gold mine in northwestern British Columbia. The exploration focus will be on a large number of defined precious metal and base metal targets. Galico was granted an option to earn a 60% interest in the Metla property from Cominco (TSE) by issuing 150,000 of its shares, and by spending $1.1 million by June 30, 1994.
Galico staked an additional 22,000 acres tied on to the Metla property. These claims, not subject to the option agreement with Cominco, will be explored for their potential to host precious and base metal mineralization, or for any strike extensions of the Metla mineralization. Prime Explorations will manage exploration work on the properties.
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