PERTH (miningweekly.com) – ASX-listed junior Equator Resources has acquired the Silverfields silver-cobalt mine, in Ontario, from Canadian miner Teck Corporation.
Some 18-million ounces of silver was produced at the project between 1964 and 1983.
The underground operation comprises four patented mining claims and the underground workings related to the silver mine are significant, Equator said on Friday, which the company believes will allow for access for modern exploration targeting cobalt mineralisation.
Equator told shareholders that historical reports indicate substantial cobalt grades in silver ore; however, the project’s cobalt potential remains untested.