A recently signed option deal gives Hyder Gold (VSE) the right to earn a 50% interest in the Railway-Zetu Creek property owned by West Pride Industries (VSE).
The property is in the north Iskut region of northwestern British Columbia near the Stewart-Cassiar highway.
Widespread copper-gold mineralization was discovered on the property last year and the companies expect to begin an exploration program in July. Hyder will act as the operator.
Hyder must spend $500,000 on the property by the end of 1992 as well as make cash payments to West Pride totalling $40,000 to earn the 50% interest.
The agreement stipulates that Hyder pay West Pride $20,000 on signing and complete $150,000 in expenditures by Oct. 6, 1991, when the second payment of $20,000 is due.
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