Trenching and drilling are expected to get under way on the CNE/Captain group of properties in New Brunswick by year-end, reports property holder Stratabound Minerals (ASE).
Teck (TSE) has completed a number of geological, geochemical and geophysical surveys on the properties, and is also working on Stratabound’s Taylor Brook claims.
The drilling program will focus on the off-faulted continuation of the formation that hosts the CNE lead-zinc-silver deposit. In 1989, more holes may be drilled to test the southern portion of the CNE/Captain block. Teck has an option to earn a 51% interest in all of Stratabound’s New Brunswick properties, except the CNE open pit, by making cash payments of $50,000, spending $3 million on exploration and purchasing $462,500 worth of Stratabound treasury shares.
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