Following the completion of a $1.2-million financing, Chutine Resources (VSE) has gone through a major board change. New directors include Peter Holmes, as chairman and chief executive officer, C.H. Freeman, Dr. Stanley Holmes and Dr. Charles Michener. Three original Chutine directors, A.C. Howe, Dino Titaro and John White will remain on the board. The company owns a 49% interest in Minera Sanex, a Mexican company. Minera owns a 7,000- acre property in the Sonora area of Mexico which hosts gold and copper reserves.
Small-scale copper production is in progress on a portion of the property hosting 4.5 million tons grading 1.38% copper. An additional 7.7 million tons of reserves grading 0.8% copper have been inferred by drilling.
Gold oxide reserves totalling in excess of one million tons also exist on the ground. Chutine plans to confirm and expand the reserves on the property and increase the operation’s copper production.
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