WESTMIN

Westmin owns the Premier
mine, one of the two operating
gold mines in the Iskut River gold
belt. The mine and associated
gold mill near Stewart employs
about 60 people. During 1990 and
1991 Westmin and Tenajon Silver
completed a short-term contract
for milling ore from the SB prop-
erty north of Stewart. Ore from
the Dome Mountain operation
near Smithers will also be pro-
cessed at the mill.

Westmin has options on prop-
erties adjacent to Newhawk
Gold’s Sulphurets claim group for
which it has exploration plans.
The company also owns a copper-
zinc mine near Campbell River,
several properties in eastern
Canada, and is conducting explo-
ration on discoveries in the north
central interior and on southern
Vancouver Island.

PRIME RESOURCES

Prime started out as an

‘umbrella operating company for
about 40 junior resource com-
panies. In 1990 and 1991 it
vended its holding in those com-
panies into Prime Equities, a
separate corporate entity, chang-
ing its focus from grassroots ex-
ploration to precious metals min-
ing and development.

Prime was the company out
on the ground at Eskay Creek
when spectacular drilling results
ignited the Vancouver Stock
Exchange. The company acquired
Calpine Resources and picked up
part of Stikine Resources, and in
1991 International Corona
acquired controlling interest in
Prime.

Prime also holds 40 percent of
the Snip gold property, with the
other 60% being held by the oper-
ator, Cominco.

COMINCO
Cominco is a large, diversified
mining company with worldwide
operations that has played a
prominent role in Northwest mine
development and exploration. The
company operates and owns 60%

of the Snip gold mine on the
lower reaches of the Iskut River,
employing about 150 people. Fur-
ther north it is exploring a joint
venture project with Richmond-
based junior Redfern Resources at

a former Cominco gold producer,
Tulsequah Chief.

REDFERN

Richmond-based Redfern
Resources has acquired 40% inter-
est in the Tulsequah Chief from
origina! owner Cominco and is
now in the process of earning the
other 60%. The option will cost
$200,000 in cash, 1.1 million
shares and the assumption of
environmental liabilities that
Redfern estimates at under $1
million.

The company expects to spend
about $3.9 million on its next
round of exploration, planned to
include in-fill and underground
drilling programs.

STORE HOURS
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Terrace, BC
ph. (604)835-7206

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B.C. Mining Week / Terrace Review — February 28, 1992