Teck (TSE) has acquired an option to earn a 50% interest in a polymetallic prospect from Orient Resources (ME). Situated 104 km east of Val d’Or, Que., the 306- claim property covers two occurrences of zinc, copper, silver and gold mineralization.
Both showings were drilled by previous operators. The best intersection from both showings was a 1-ft. section grading 0.77 oz. gold per ton, 17.1 oz. silver, 9.9% zinc and 4% copper. Another 24-ft. section assayed 0.07 oz. gold, 1.41 oz. silver and 0.72% zinc.
Teck can earn its interest by spending $2 million on exploration over a 4-year period. Orient will also receive cash payments of $200,000 during the option period.
Teck plans to begin drilling the property in early 1990. The program will examine the mineralized zones at depth.
Be the first to comment on "Teck, Orient deal"