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Castle Resources Exercises Option to Acquire the Granduc Copper Mine
Jul. 19, 2010 02:43PM PST
Base Metals Investing
Castle Resources Inc. (TSX VENTURE:CRI) announced that it has entered into a 6 year option agreement with Bell Copper Resources to acquire up to a 90% interest in the historic past-producing Granduc Copper Mine, located near Stewart B.C.
Castle Resources Inc. (TSX VENTURE:CRI) announced that it has entered into a 6 year option agreement with Bell Copper Resources to acquire up to a 90% interest in the historic past-producing Granduc Copper Mine, located near Stewart B.C.
The press release is quoted as saying:
The Granduc Mine is an historic past-producing copper mine with excellent infrastructure in place. It is Castle’s intent to commission a NI 43-101 resource calculation by drill testing the down dip and strike extent of the historical deposit, then determine the economic feasibility of the project with the aim of ultimately redeveloping the mine. Initially, this will entail setting up field operations in the Leduc Valley near the Granduc Mine site and beginning a comprehensive diamond drill program this August.
Click here to access the entire press release