Hemlo drops Taurus option

After drilling five holes, Hemlo Gold Mines (TSE) has decided not to earn an interest in Lodestar Explorations’ (VSE) Taurus copper property, in eastern Alaska.

Discovered 20 years ago, the porphyry deposit has a drill-indicated reserve of 140 million tons of 0.3% copper and 0.03% molybdenum. Lodestar intends to raise funds to continue drilling or else seek a partner in a major company.