Imperial takes option on properties adjacent to Mount Polley
Copper and gold miner Imperial Metals has taken an option to earn a 100% interest in seven mineral claims adjacent to the north and east boundaries of its Mount Polley mine, in central British Columbia.
The option is with TSX-V-listed Commander Resources, which said on Friday that the claims encompassed 3 331 ha, all 100% owned by Commander except for 648 ha that is 90% owned by the company and 10% by an arm's length private company.
Imperial would pay a total of $250 000 for the option, staged over three payments, Commander said in a statement. A production royalty of $1.25/t-milled royalty would also be due.
Operations at Mount Polley were suspended in May this year, owing to poor market conditions. The mine was at the centre of the 2014 tailings storage facility breach, which caused water and tailings to be released into Polley Lake.
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