Steele Resources Corporation announced today that it has executed a definitive mineral lease agreement with option to purchase the Copper Canyon Mine from Salmon Canyon Copper Company near Salmon, ID.

A technical report and mineral evaluation was completed by Behre Dolbear & Company in 1979. Their report postulated a body of ore totaling up to 465,000 tons of mineralized material possibly containing approximately 12 million pounds of copper, 6.4 million pounds of cobalt, 23,000 ounces of both gold and silver. Interested parties are advised that this is an estimate based on limited geologic data which is highly subjective in nature. [Read more...]