Inco (TSE) can earn a 60% interest in Breakwater Resources’ (TSE) Fly Lake base metal property, east of Red Lake, Ont.
To do so, the senior must spend $1.25 million on exploration and pay $125,000 over five years.
Previous drilling of geophysical anomalies intersected sulphide stringers that assayed up to 6% zinc over 1 metre.
The property comprises 559 hectares.
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