Noranda returns Sunrise to Aber

The Sunrise polymetallic property, 70 miles north of Yellowknife, N.W.T., is back in the hands of the Aber Resources (VSE) and Hemisphere Development (VSE) partnership after a unit of Noranda (TSE) opted out of a joint venture exploration agreement. The 16,000-acre property will revert 100% to the Aber-Hemisphere partnership, which also retains the right to earn a 50% interest in the adjoining Noranda claims covering 12,000 acres.

The Sunrise property covers a segment of the Beaulieu River volcanic belt and contains the Sunrise deposit which has reserves of 2.06 million tons grading 8.9% zinc, 4.2% lead, 11.8 oz. silver and 0.03 oz. gold per ton.

Aber and Hemisphere plan to pursue further exploration and development of the property through an effort to increase the tonnage available for mining in the immediate area of the Sunrise deposit.