Canadian Platinum Corp plans to spend the next several months proving up mineral resources at a former copper-zinc-silver mine site in Nevada after entering into an option agreement with a third party, company president Gary Billingsley said Friday.
CPC is primarily searching for adequate copper and zinc deposits that it could mine or which could be sold to another developer, he said in an interview.
"There is tungsten on the property as well that we'll be investigating," he added.
Billingsley said that "all options are on the table. I personally have mining experience in my background. But if somebody came in and offered us an appropriate amount of cash incentive, we would consider selling it."
A professional engineer and geoscientist, Billingsley has 40 years experience in the mineral industry.
He declined to identify the third party with whom his company signed a letter of intent to enter into an option agreement, except to say it is "a former public company in the US."
A company statement on the option deal said CPC would release more project information after inking the formal agreement.
Billingsley noted that the site -- in west-central Nevada's Mineral County -- includes a mill with throughput of 200 mt/day, which was used during the most recent mining work there, in the mid- to late 1970s.
"The opportunity is there to refurbish it," he said of the mill.
CPC is based in Saskatoon, Saskatchewan. In addition to the Nevada property, its portfolio includes an advanced-stage precious metals, copper and nickel project in northern Saskatchewan.
