Canada Zinc Metals has submitted a permit application to the B.C. government for an underground exploration program at its Cardiac Creek zinc-lead-silver project in Northern B.C.
The exploration project is about 260 kilometres north of Mackenzie.
The company anticipates approval in June, in time for a summer start-up.
Work plans call for upgrade of the access trail for waste rock hauling, construction of the portal pad, and start of the main decline for exploration drilling.
An underground drill program of 16,000 metres slated for 2012 is designed to define the overall dimension and grade of the Cardiac Creek deposit.
"Advancing the Cardiac Creek zone towards development through extensive underground diamond drilling is the principal goal and technical focus for the next 24 months," said Canada Zinc Metals president and CEO Peeyush Varshney.
MOUNT MILLIGAN DATA PURCHASED
Fjordland Exploration Inc. has reached an agreement with Armarc Resources Ltd. for exploration data on a pair of properties in the Mount Milligan area.
Fjordland is paying for the data by issuing 100,000 shares to Armarc, subject to acceptance by the Toronto Stock Exchange.
The two Fjordland properties -- on which the company has a exploration funding agreement with Capstone Mining Corp. -- are near Thompson Creek's Mount Milligan deposit.
Thompson Creek has started construction on the $1.27-billion gold-copper mine, and expects to have more than 600 workers on site this summer. The mine is about 155 kilometres northwest of Prince George.
"Given the proximity of the Milligan properties to the known Mt. Milligan deposits and the recently completed deep drilling program [by Thompson Creek], we look forward to re-evaluating the exploration data received from Armarc and identifying drill targets for 2011," said Fjordland president Tom Schroeter.
TASEKO SECURES MINIMUM REVENUE STREAM
Taseko Mines has purchased options that allow it to lock in its remaining 2011 copper production at set prices to protect its revenue stream.
The Vancouver-based company operates the Gibraltar mine in the Williams Lake area, south of Prince George.
"Copper prices have averaged approximately $4.25 per pound over the last four months, but the price has experienced extreme volatility on a day over day, and week over week basis," noted Taseko president and CEO Russell Hallbauer.
"We believe it is prudent financial management, while we are working on our numerous projects, that we guarantee a minimum revenue stream on our Gibraltar production by purchasing puts," he said.
The company has just started a $325-million expansion and upgrade project at Gibraltar.
