Under an agreement with Island-Arc Resources (VSE), Copperstone Resources (VSE) can acquire an 80% interest in six copper-cobalt concessions in Baja California, Mexico.
Four properties are beside or inside the Boleo copper-cobalt project under development by International Curator Resources and Coeur d’Alene Mines. The two other properties are 15 miles north of the Boleo district Copperstone will reimburse Island-Arc for all its acquisition costs and assume all the payments and commitments required to keep the properties in good standing. Copperstone will also issue Island-Arc one million treasury shares.
The most advanced concession is Nuevo San Luciano, which has a geological resource of about 550,000 tons grading 3.5% copper. The others all show potential for hosting sediment-hosted copper-cobalt reserves.
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