A surface drill program by Placer Dome (TSE) will test two previously identified targets on the Shear property held by International Northair Mines (VSE) near Aspen Grove in south-central British Columbia.
The property is considered prospective for a bulk-tonnage copper-gold deposit similar to others in the area. The 5,000-ft. drill program is focused on the Big Kid copper-gold breccia pipe occurrence and the fracture controlled Highway/Big Sioux showing. Both targets were explored during Placer’s recently completed initial work program.
The major has an option to earn a 51% interest in the property by making staged payments totalling $530,000 and by spending $2 million on exploration by the end of September, 1995. This interest can be increased to 70% under certain conditions.
Early this month, International Northair announced that associated company Tenajon Resources (VSE) will purchase a maximum of 200,000 more of its shares through the open market for investment purposes.
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