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Valterra Resource Corp. (TSXV:VQA) announced that it’s decided not to exercise its option to gain a 100-percent interest in the Ontario-based Bobcaygeon graphite property. The company’s property option agreement for Bobcaygeon was dated June 1, 2012.
Valterra Resource Corp. (TSXV:VQA) announced that it’s decided not to exercise its option to gain a 100-percent interest in the Ontario-based Bobcaygeon graphite property. The company’s property option agreement for Bobcaygeon was dated June 1, 2012.
As quoted in the press release:
The Company feels that under the current difficult market conditions further property and option expenditures are not warranted on the property and intends to focus on its 100% owned porphyry/shear-hosted copper-gold-silver Swift Katie Project in southeastern British Columbia near Salmo.
The Swift Katie property is underlain by rocks of the prolific Quesnel Terrane, and lies within this geologically favorable and highly metallogenic area of BC that historically has hosted several important mining camps. Examples of past and present producing Cu-Au-Mo mines include Copper Mountain, Afton/Ajax, Mt. Milligan and Rossland Camp as well as a number of advanced exploration/development deposits such as Kena, Woodjam and Lorraine.
The Swift Katie project consists of 17 contiguous MTO mineral claims, covering over 80 square kilometres within an 11km by 3km airborne magnetic trend. The property area, outside of the “Katie Zone”, remains vastly underexplored for copper-porphyry targets and represents significant exploration upside and potential for new polymetallic discoveries.
Click here to read the full Valterra Resource Corp. (TSXV:VQA) press release.