Scotia, Phelps begin drilling

Financed by Phelps Dodge of Canada, Scotia Prime Minerals (ASE) has started drilling a portfolio of Nova Scotian properties.

Under the current program, expected to be complete by the end of September, Scotia will test four individual properties for carbonate-hosted base metal deposits.

The size of the drilling program was not disclosed.

Phelps Dodge has signed three option agreements covering six Scotia Prime properties on Cape Breton Island and near Glasgow, N.S. In order to earn a 51% interest, the larger company has agreed to spend $2.1 million on exploration over 30-36 months.

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