Special to The Northern Miner Mt. Hundere leading Yukon project

Topping the list is the ambitious Mt. Hundere silver-lead-zinc property near Watson Lake, where a consortium led by Hillsborough Resources (TSE) and Curragh Resources (TSE) is promising $6 million in exploration.

Other key players this summer are Noranda Explorations (TSE), Total Energold (TSE), Canamax Resources (TSE), United Keno Hill Mines (TSE), and Cominco Ltd. (TSE), said Al Doherty of the Yukon Chamber of Mines.

United Keno plans to spend $1.5 million, Total Energold $1.3 million and Cominco $900,000.

Archer Cathro & Associates (1981) Ltd. are overseeing exploration this summer on the Marg, Blende and Nick properties in the central Yukon, north of Mayo.

Senior partner Al Archer said $500,000 is being spent on the Nick nickel deposit, optioned to Inco Ltd. (TSE) from NDU Resources (VSE) and two juniors: 2001 Industries (VSE) and Pak-Man Resources (VSE).

On the Blende lead-zinc property, he said NDU will spend $1 million to $1.5 million.

At least $750,000 will be spent on the Marg, a massive sulphide deposit, said Archer, adding that Noranda is financing this project directly by taking down stock in NDU.

But Archer said this work represents only 15% of what his firm did last year. His staff has been pared to 25 from 60.

Cominco is working on two silver-lead-zinc properties in the MacMillan Pass area. John Hamilton, Cominco’s manager of exploration project development in Canada, said $750,000 is being spent drilling deep holes of about 500 m on the Tom property, which Cominco optioned in 1988 from Hudson Bay Mining and Smelting (TSE). Cominco is committed to spending $1.5 million on the property by the end of 1989.

The first option, kicking in at the start of 1990, is for Cominco to pay $1 million on exploration and $1 million cash to Hudson Bay for the year, with options to repeat in 1991 and 1992.

The second option is to continue spending $1 million on exploration and to pay $1 million in cash in 1994, thereby raising Cominco’s interest to 60%.

Hamilton said in both cases the interest are subject to royalties payable to Hudson Bay if the property goes into production.

Cominco is also planning to spend $150,000 to drill 150-250-m holes on its nidd property.

At Canamax’s Ketza River gold mine, between $500,000 and $1 million has been set for exploration. Curragh plans $1 million in exploration work in several areas around existing lead-zinc deposits at the Faro mine.

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