Drilling confirms resource at Boleo

Infill drilling on the Boleo copper-cobalt project in Baja California Sur, Mexico, is returning results consistent with previous resource estimates.

The property, owned by International Curator Resources (TSE), hosts a drill-indicated and inferred open-pit resource of 91.5 million tonnes grading 0.7% copper and 0.08% cobalt. An underground resource is estimated at 49.4 million tonnes grading 2.67% copper and 0.082% cobalt.

Drilling on 400-metre centres is testing the Saturno, Mercurio and Apolo areas for open-pit potential. Copper-cobalt mineralization is hosted in a series of flat-lying, stratiform, sedimentary beds and volcanic tuffs. Five holes drilled in the No. 3 bed of the Saturno zone returned values that range from 0.33% copper and 0.031% cobalt over 3.68 metres for hole 94-56, to 0.73% copper and 0.105% cobalt over 11.3 metres for hole 94-58. Nine holes reported from the No. 3 bed in the Mercurio and Apolo zones confirmed assay data found in old Mexican mining maps. Results include: 1.2 metres of 2.15% copper and 0.04% cobalt for hole 94-50; 4.02 metres of 3.08% copper and 0.038% cobalt for 94-62; and 4.17 metres of 1.09% copper, 0.125% cobalt and 3.11% zinc for 94-64. Zinc values of 0.18% to 0.72% were reported for most of the holes.

The No. 2 bed, lying 40 metres above No. 3 in the Mercurio-Apolo area, averaged 0.32% copper, 0.067% cobalt and 0.87% zinc over just less than 2 metres. The company believes the No. 2 bed can be mined in conjunction with the No. 3.

The No. 1 bed occurs 30 to 50 metres above No. 2 and, although it returned minimal copper-cobalt values from three holes, averaged 3% zinc over 2 metres. International Curator can acquire the property in whole by paying the owner US$16 million by Aug. 15, 1995. Drilling is expected to be completed by year-end.