A technical report and mineral evaluation, which was completed by Behre Dolbear & Company in 1979, postulated a body of ore totaling up to 465,000 tons of mineralized material possibly containing about 12 million pounds of copper, 6.4 million pounds of cobalt, 23,000 ounces of both gold and silver.
Steele has submitted an application to conduct a 25-hole drill program in the underground workings of the mine with the intent of verifying the findings of the Behre report and further define the mineralization at the site.
Steele CEO Scott Dockter said it is a very promising property with enough evidence of mineralization to justify additional exploration efforts.
"We believe that our drilling will confirm the figures stated in the Behre Dolbear report and possibly add value by defining additional mineralized targets," Dockter said.
