Mining News: Northern Neighbors: Teck opts out of Kliyul, Kiska regains control

Kiska Metals Corp. Oct. 4 reported that Teck Resources Ltd. has terminated its option to earn up to a 51 percent interest in Kliyul. As a result, Kiska regains 100 percent interest in the copper-gold project in northern British Columbia. Over the past three years, Teck completed roughly C$3 million on exploration and community engagement programs related to Kliyul. The field work included induced polarization geophysical surveys, archeological surveys, baseline water quality surveys and around 2,000 meters of diamond drilling in four holes. Kiska said discussions with a potential new partner are underway. “Management believes it is in the best interest of Kiska shareholders to seek continuous advancement of the Kliyul project,” said Kiska President and CEO Grant Ewing. “And while it is unfortunate to lose Teck as a partner, Kiska is excited to regain control of the Kliyul project, and is confident that there will be strong interest from other major mining companies.”

-Shane Lasley