Northisle Copper & Gold Inc. and Freeport-McMoRan Inc. agreed to an initial work plan and budget for the former's Pemberton Hills copper project in British Columbia, according to a May 11 release.
Freeport will sole fund the program under an option agreement signed earlier this year, allowing it to earn an aggregate 65% interest in the property by completing certain payment and spending milestones.
The work program is estimated to cost C$700,000 and will comprise about 10 kilometers of induced polarization geophysical survey as well as three drillholes totaling 1,500 meters. The survey is expected to start in June with drilling to begin in September.
"We look forward to getting back on the ground at Pemberton Hills with funding and technical support of Freeport. Pemberton Hills is one of several early-stage exploration targets on our extensive property holdings in this impressive copper-gold district," Northisle President and CEO John McClintock said.