Duration drilling at Casa Berardi

Diamond drilling has started on Duration Mines’ Casa Berardi property with one drill rig and a second rig scheduled to start shortly, reports President David P. Rogers.

The Casa Berardi claim group, including the Ronrico Resources option, covers 23 km of favorable strike length on which reverse circulation drill sampling and detailed ground geophysics have confirmed the premise that Duration’s property comprises the mirror image of iron formation and associated volcanics and sediments occurring to the south which host the Golden Pond deposits discovered by partners Inco Ltd. and Golden Knight Resources.

Mr Rogers also reports the company has finalized an agreement negotiated May 29 with a private company called Locator Explorations covering 55 claims in the McVicar-Semia Lake area west of Pickle Lake, Ont. The claim group covers the western extension of the volcano-sedimentary belt which underlies Duration’s Dougie Lake claim group.

Duration can earn a 60% interest in the Locator ground by spending $150,000 by Dec 31, 1987, and a further $150,000 by Dec 31, 1988.

Duration has also finalized a joint venture agreement negotiated Aug 15 whereby Locator Explorations can earn a 40% interest in Duration’s Norton Lake project near Fort Hope in northern Ontario.

Duration earns its interest through initial cash payments of $15,000 plus $25,000 for prospecting expenses and by spending a further $160,000 by Dec 31, 1987, and $200,000 by Dec 1988.

Mr Rogers also reports that at the company’s annual meeting, Edward G. Thompson was elected to the company’s board of directors. The company also received shareholder approval, enabling Duration to become a federal corporation.