BCM Resources Corp. said Oct. 12 that it completed a previously announced option agreement to purchase up to a 60% interest in the Thompson Knolls copper-gold project in Utah from Inland Explorations Ltd.
The company was granted the option to acquire the interest in two stages by completing certain payment and spending milestones within a six-year period.
In addition, BCM noted that Inland secured a new permit from federal and state regulators to drill three more holes on the property. This allows Inland to complete a total of five drillholes in the core of the porphyry target area at Thompson Knolls.
Thompson Knolls comprises 125 federal unpatented mineral claims and two State Section leases across 3,465 acres.