Teck Cominco - Inco Commence Drilling on BrasOctober 10, 2001 CDNX Trading Symbol: B S L
NEWS RELEASE CUSIP No. 105531 10 7
Teck Cominco - Inco Commence Drilling on Brasilca’s Tucumã Property
Franz Scheitz, President of Brasilca Mining Corp., (the “Company”) is pleased to announce that Teck Cominco-Inco has commenced a diamond drilling program on the Company’s Tucumã property. Drilling will initially focus on the “512” target where the Company’s drilling in the year 2000 intersected 16 meters of 1.3% copper and 7.1 g/t silver.
Complete details of the program will be outlined in a pending news release after consultation with Teck Cominco geologists.
The exploration work on Tucumã is under the terms of a Joint Venture Agreement between Brasilca Mining Corp. and Teck Cominco Ltd. and Inco Ltd. that was announced in April, 2001. Under terms of this agreement, Teck Cominco and Inco, acting as 50-50 joint venture partners, have the option to earn a 51% interest in Brasilca’s Tucumã property by incurring US$3.5 million in exploration expenditures and making cash payments in the amount of US$500,000 to Brasilca over three years. Teck Cominco and Inco can earn an additional 24% interest in the property by making staged cash payments totaling US$ 6 million, and by completing a bankable feasibility study on the property.
On behalf of the Board of Director,
“Franz Scheitz”