If the two companies reach an agreement, Marshall says it can mine and deliver ore from Restigouche to East West Caribou’s mill site, 20 miles from the property, for processing and sale by the latter company. East West is a public Australian company, not yet listed in Canada.
Based on recent drill results at the Restigouche property, both companies say they are optimistic the deposit can be mined profitably at current market prices for base and precious metals.
A program in late 1988 and early 1989 conducted by Marshall involved the drilling of 105 holes at Restigouche. Results have indicated open pit reserves at 6% cut-off grade for lead plus zinc, of 1.6 million tons grading 7.71% zinc, 5.96% lead, 0.38% copper, 3.26 oz silver per ton and 0.04 oz gold per ton.
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