Colorado Resources to Acquire Red Chris

Colorado Resources (TSXV:CXO) has entered into an Option Agreement with Sunrise Resources to acquire 75% interest in the Eldorado Copper-Gold Property in northern British Columbia.

As quoted in the press release:

The Eldorado property covers the Eldorado and Bonanza Minfile copper-gold showings located approximately 7 km along strike to the northeast of the Red Chris Cu-Au deposit where Imperial Metals on May 7, 2012 announced it has received its Mine Permit. With mine development to include a 30,000 tonne per day milling operation and related open pit mine with reserves of 301.5 million tonnes grading 0.359% copper and 0.274 grams per tonne gold.

Click here to view the full press release.