Perrex Resources is planning a large exploration program in the Harker-Holloway area east of Matheson, Ont. The main thrust of the company’s efforts will be on a 191-claim property in Harker, Thackeray and Garrison twps., which was optioned to Lac Minerals. Lac paid $1 million in order to earn a 50% stake in the claims. However, Perrex must spend a minimum of $750,000 of that cash on exploration, a Lac spokesman tells The Northern Miner. Perrex notes that $1 million will be spent on geophysical surveys and drilling.
Another 60-claim block, also in Thackeray Twp., will be the site of a $250,000 program funded by the company. Perrex can earn a 100% interest in these claims. On the nearby Iris property, Perrex plans to spend $450,000 in order to earn a 45% interest. Located in Harker and Elliott twps., the Iris ground covers a large quartz syenite intrusive which is associated with gold mineralization. The best drill hole in this zone cut 9 ft grading 0.13 oz gold per ton. This was within a wider zone of 55 ft assaying 0.04 oz gold per ton.
In Quebec, Perrex has budgeted $300,000 for exploration of claims in Vezza Twp., 20 miles east of Joutel.
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