Commander Resources (CMD:TSX-V) announced Friday that it has granted Imperial Metals (TSE: III) an option to earn a 100% interest in seven mineral claims covering 3,331 hectares adjacent to the north and east boundaries of Imperial’s Mount Polley Mine in central British Columbia.
The Mount Polley Mine is an open pit copper
gold producer with a mill capacity of approximately 20,000 tonnes per day and has
been on care and maintenance since Imperial suspended operations in January.
consideration for the option is $250,000 staged over three payments, 90% due to
Commander and 10% due to the arm’s length private company.
Target settings within the optioned claims include
a potential northern projection of the high-grade Boundary Zone and Quarry Zone
beneath a post-mineral conglomerate unit. Historical drilling within this area
did not penetrate the younger conglomerate. A single line of Titan 24
deep-looking induced polarization survey indicates elevated chargeability zones
target is a partially tested glacial till covered area where regional magnetics
suggests a faulted offset of the Mount Polley Intrusive complex, which hosts
the Mount Polley orebody. A thick till covered prospective area immediately
east of Imperial’s depleted Pond and Southeast Zone pits.