Iron River on gold property

A first-phase exploration program has commenced at Iron River Resources’ Loughborough Inlet gold property, 35 miles north of Campbell River, B.C. A 2.5-mile access road will be rehabilitated, a helicopter pad constructed, plus camp facilities and a barge ramp.

The property had a brief production history and 130 tons of ore grading 0.88 oz gold and 3.5 oz silver was shipped in the late 1930s. Rehabilitation and dewatering of old mine workings are also planned.

Noranda Exploration has optioned Iron River’s Forbidden Plateau property on Vancouver Island. The former can earn a 51% interest for $1.5 million in exploration expenditures over the next four years plus $250,000 in staged property payments. The ground is adjacent to the Mt. Washington property under active exploration by Better Resources.