October 2013

Polar Star Mining reported that BHP Billiton has completed a preliminary assessment of the 172,800 ha of exploration land held by Polar Star in northern Chile and has informed the company of its decision to proceed with four of the five blocks offered. In terms of acreage, this means that BHP Billiton will further its exploration efforts on approximately 130,900 ha of exploration ground owned by Polar Star.

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New Zealand Seeking PGM Minerals Exploration Tenders

The government of New Zealand has opened a competitive minerals tender process for companies interested in exploring for platinum group elements (PGMs) on five areas on the nation’s South Island. Interested companies are invited to submit work program-based bids. 

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Boart Longyear is Awarded Major Contract at Kibali

Boart Longyear announced in mid-August that it has been awarded a major contract for exploration drilling services at the Kibali gold mine in the Democratic Republic of the Congo (DRC). The contract has an expected duration of five years and value of up to $70 million. Drilling was scheduled to begin immediately.

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Teck and Copper Fox Form Schaft Creek Joint Venture

Teck Resources and Copper Fox Metals have entered into a joint venture agreement covering the Schaft Creek copper-gold exploration property in northwest British Columbia. Teck will hold a 75% interest and Copper Fox will hold a 25% interest in the joint venture. Teck will be the operator. The new agreement replaces a 2002 option and joint venture agreement between the two companies. 

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