Based on a recent letter of intent agreement,Teck (TSE) plans to spend $200,000 this year exploring the MGMshale-hosted, polymetallic massive sulphide prospect, 75 milesnorth of Golden, B.C. Teck may earn a 60% interest in the zinc-lead-silver-goldprospect from White Knight Resources (VSE) and John Leask byspending $1.5 million on exploration and through option paymentsof $250,000 over four years.
The major will pay $10,000 upon execution of a formal agreementand commit to spend $200,000 on exploration during the first yearof the agreement.
Once Teck has earned its 60% interest, further development ofthe property will be governed by a joint venture between Teck,White Knight and John Leask.
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