PAGE 10

TERRACE HERALD,

TERRACE, B.C.

MONDAY, APRIL 22, 1971

a a ates cat bee

A Event winners in the Terrace Men’s Club playoffs are {I to r) George Hamer,
Ellis, second; Don Deane, third and Bill Griffiths, skip

Winners of the C Event a are ( to r) Larry Beckley, lead; Ralph Tedesco, second;
third; and Buster P: Patterson, skip

GOV'T INSPECTED FROZEN
CUT- UP TRAY PACK

crete cnet een ee ese re bepeeeerneaga LB.

NO DEALERS PLEASE.

lead; Earl

Harvey Moore,

Winners of B Event are (i to r) Jim Hinchliffe, lead; Dave. Cruickshank, second: Doug Paisley,
third; and Orville Paisley, skip

Photos by Leo Carpay-Terrace Photo

Production agreement
complete on
Alice Arm property

At the recent Sileurian
Chieftain Mining Co, Ltd.
annual meeting John Reitmier,
president, announced
completion of an exploration-
production agreement with
Pechiriey Development Limited
of Paris, France. . The

‘agreement covers the Sileurian

molybdenum property located
at Alice Arm, B.C. Under the
agreemtn, Pechiney has
undertaken to
minimum of $60,000 before
June 30, 1971 on the further
exploration and evaluation of
the property.

Work over the past few years
has included surface and
underground drilling plus
crosscutting and drifting. This
has established reserves
estimated at 1,500,000 tons
grading 0.347 percent
moalybdenite. In a separate
higher grade zone a further
minimum of 39,000 tons grading
0.688 percent molybdenite has
been established. Additional
zones which have been tested by
a few drill holes on the property
also hold substantial potential.

If Pechiney determines that a
feasibility report on the
properly is warranted and

‘undertakes to carry out such a

study it has 12 months: within
which to complete the study.
Pechiney has until December
31, 1974 to give notice of its
intention to bring the property
into production or abandon all
interest in the ground. If

‘Pechiney decides to bring the

property into production, it is
responsible for securing all of
the financing and will earn a 70

spend a’

percent interest with Sileurian
retaining a 30 percent carried
non-assessable interest.
Sileurian also has the option.of
providing 10 percent. of the
financing to production and
thereby increasing its interest
to 40 percent.

For Pechiney to continue its
option beyond the initial period
to June 30, 1971 (by which time
it must spend -$60,000), the
follawing amounts must be
spent by the following dates: an
additional $100,000 by
December 31, 1971; an
additional $10,000 by Mareh 31,

"1972; an additional $40,000 by

June 30, 1972; an additional
$10,000 by September 30, 1972;
an additional $40,000 by
December 31,' 1972; an
additional | $150,000 by
December 31, 1973; and a

“further $150,000 by December

31, 1974. This covers a total of
$620,000 within three years.
Mr. Reitmier said
preliminary:
Sileurian’s ore indicate no
metallurgical problems exist
such- as.. from
contamination. Also, he
understands that Pechiney has
a market for any production
from the property. ~
Pechiney has already moved
crews to the property and their
initial work is underway.

ALBERTA’S, POPULATION
Out of a total population of 1.5
inillion in Alberta, 1.1 million

‘live in cities, towns, or villages,

reports the department of mu-
nicipal affairs.

eeuteenene

Studies of |

lead.

TENDERFLAKE

There are very few things
left for the men in this

This

smooth dark -
un
is one of
them.

The advertisement is “5 not nublished ar aeined by the Liquor
Contro! Board or the Government bf British Columbia,