Lundin Mining has started exclusive negotiations with Talon Metals on an earn-in agreement for up to a 70% interest in the Boulderdash nickel and copper exploration project in US.
The exploration properties are adjacent to Lundin’s Eagle mine. SO far, it has payed $5 million in advance to commence drilling at Boulderdash, which Talon would repay if the parties do not execute the option agreement.
The Boulderdash deposit is located approximately 12 kilometres northwest of Lundin Mining’s Eagle Mine in Michigan, the only operating nickel mine in the U.S. The maiden drill hole at Boulderdash intercepted 99.92 m grading 0.41% nickel and 0.35% copper starting at 9.14 m depth.
More recent drilling has intercepted 2.35 m of nickel-copper massive sulphide mineralization assaying 2.33% nickel and 2.95% copper.
As part of the option agreement Lundin Mining will fund an initial 10,000 m drill program to follow up on recent drill results.
Theodor Lisovoy, Managing Editor, Rough&Polished
