Green Ice picks up Star Hill

A reverse-takeover of a private company will give International Green Ice (IGC-V) a property near Bisbee in Cochise Cty. in southeastern Arizona.

The deal with private TSC Enterprises would bring in the Star Hill property, 30 km north of Bisbee, where previous work outlined copper, silver and gold mineralization. TSC shareholders would get about 6 million shares of Green Ice and two seats on the board of directors.

Work in the late 1980s by Santa Fe Pacific Gold, now part of Newmont Mining (NEM-N), outlined 2.5 million tonnes grading 0.85% copper, including a 630,000-tonne high-grade zone carrying 3.08% copper, 8.2 grams silver and 1.7 grams gold per tonne. The Santa Fe results, dating back to 1989, are not in compliance with new securities rules and the TSX Venture Exchange will require an independent geological report before approving the reverse takeover.

The mineralization occurs in disseminations in porphyry, as replacements in surrounding carbonate rocks, and in a supergene chalcocite blanket. The mineralized zones sit on one side of a breccia pipe, and Green Ice plans to test targets on the opposite side of the pipe, where mineralized intersections in reconnaissance drill holes suggest a “mirror-image” zone may be present.