Sunburst deals Tribag copper bet to Noranda

Toronto-based Sunburst Exploration (TSE) says it has reached an agreement for Noranda Exploration, a unit of Noranda (TSE), to option its Tribag copper property in northern Ontario.

The property, about 65 miles north of Sault Ste Marie, Ont., hosts a former underground copper mine which operated from the late 1960s to the mid-1970s.

Noranda has been granted an option to earn a 60% interest in the 125-claim property by spending $2 million on exploration and making cash payments totalling $200,000 over a 5-year period ending Dec. 31, 1994. According to Sunburst President Tor Jensen, the property’s previously mined Brett on zone supported a 500-ton-per-day mill with material grading 3-4% copper. Other major zones of mineralization include the east and west Breccia zones, as well as targets identified by reconnaissance geochemical surveys. Those targets still remain to be tested by diamond drilling, he says.

The initial phase of Noranda’s work will consist largely of a review and interpretation of all existing data from the property’s 10-year production history.