Kennecott Exploration, part of the Rio Tinto Group, has started with a drilling campaign at TSX-V-listed Broadway Gold Mining’s Madison copper/gold project, in the Butte region of Montana, in the US.
The initial drilling programme consists of three drill holes targeting an area displaying multi-element soil and rock chip geochemical anomalies, historic prospects, strong induced polarisation anomalies and porphyry drill intercepts, as well as four holes targeting skarn mineralisation.
In April, Broadway and Kennecott Exploration signed an earn-in agreement with an option to enter into a joint venture for 70% interest after spending $50-million. Subsequent to signing the agreement, Broadway signed purchase arrangement to acquire a direct 85% interest in the historic Tsumeb mine in Namibia.