by Greg Klein | October 22, 2015
With its first jade prospecting program finished for the season, Electra Stone TSXV:ELT confirmed the presence of nephrite jade at two of its northern British Columbia projects on October 22. Four of the company’s six projects in a 5,850-hectare jade portfolio underwent exploration. Confirmation was made at Electra’s Greenrock Creek placer property, six kilometres from the Polar Jade operation, and at Electra’s Rustic property, eight kilometres from the Cassiar jade operation.
“The completion of this program is a positive first step towards Electra’s plans of developing a vertically integrated B.C. jade mining, trading and marketing platform,” said CEO John Costigan. “The information provided will help prepare us for the next exploration season. We will continue to build out our exploration assets and knowledge thereof, while we expand our trading with additional shipments of B.C. nephrite jade for sale to markets in China.”
The company’s first shipment left for Shanghai last month, with 18 tonnes bought from another B.C. operation to establish contacts with Chinese buyers. B.C. supplies about 75% of the world’s nephrite jade, most of which is bought in China.
Electra also produces chalky geyserite, or aluminum silica, from its Apple Bay quarry on Vancouver Island. Last summer Electra and a U.S. cement manufacturer began a co-operative drill program to consider expanding the operation.