Yellowjack Resources has optioned the Lucky Boy property from Cominco Ltd. Located two km south of the H.B. mine near Salmo, B.C., the property covers showings of lead-zinc mineralization similar to that which was mined at the H.B. mine.
Yellowjack can earn a 100% interest in the claims by spending $1.2 million on exploration over a 3-5-year period. Upon completing a favorable feasibility study, Cominco can back in for a 60% interest by spending $2 for each dollar spent by Yellowjack.
A $150,000 exploration program, including drilling, is expected to start this month. The work will test several showings associated with folded limestones. Mineralization outcrops as replacement sphalerite, galena and pyrite.
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