NEWS ROUNDUP (March 30, 1992)

Rio Algom (TSE) has agreed to option Key Anacon Mines’ (TSE) base metal prospect in northern New Brunswick.

Under the agreement, Rio must spend $10 million on exploration over five years in order to earn a 60% interest in the former producer. Key Anacon worked the 2,200-acre property briefly in the 1960s and recently expanded its claim position in the area. Minable reserves of 1.86 million tons grading 7.43% zinc, 3.03% lead, 0.2% copper and 2.67 oz. silver per ton can be accessed from a 1,500-ft. shaft.

The property lies just south of Bathurst and due east of the Brunswick lead-zinc mine.