A unit of Noranda (TSE) will operate an exploration program this year on the Knipple Lake polymetallic prospect, 60 km north of Stewart, B.C. Hyder Gold (VSE) can earn a 50% interest in the property from Noranda by spending $750,000 on exploration by the end of 1993.
Mineralization encountered to date includes sphalerite, galena, chalcopyrite and pyrite found in sub-angular boulders of quartz carbonate vein and breccia material scattered over a 100×400-metre area. Three anomalies on the property are considered possible source areas for the float mineralization.
Hyder Gold director Ron Netolitzky said electromagnetic, magnetic, induced polarization and trenching surveys will be used during the 1991 program to delineate targets warranting diamond drilling.
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