Hudbay is preparing to conduct ground geophysical surveys over newly identified exploration targets southwest of Snow Lake.
That’s the word from Troymet Exploration Corp., which along with Hudbay co-owns claims at the McClarty Lake property.
Troymet wholly owns three of five claims at McClarty and holds a 40 per cent interest in two claims (totalling 252 hectares) in a joint venture with Hudbay.
Under the terms of the joint venture agreement, Hudbay must dole out $1.15 million in joint venture expenditures before Troymet is required to fund its participating interest.
Hudbay, as joint venture operator, recently completed a compilation and review of all the technical data for the joint venture claims, Troymet said.
Troymet said this work resulted in the identification of new targets and the subsequent staking, by the joint venture, of three new mineral claims that adjoin both the joint venture claims and the claims wholly owned by Troymet.
Troymet said Hudbay is now planning ground geophysical surveys.
The McClarty Lake property is 47 km southwest of Snow Lake.
