FinNeth Exploration is engaged in a number of drilling programs on promising gold and base metal targets in the Abitibi and Eastern Twp. areas of Quebec. Currently it is seeking opportunities to participate in other, more advanced-stage precious metal projects in Quebec or the Maritimes.
FinNeth is jointly owned and operated by the Canadian subsidiaries of two major international companies: The Billiton Group of the Netherlands and Outokumpu Oy of Finland.
Billiton Metals Canada is the owner of a recently-discovered significant tin deposit in New Brunswick, referred to as the North Tin zone. Lac Minerals, which is earning a 50% interest in the project, completed a 4,000-ft underground exploration ramp in mid-1986 and has now undertaken a feasibility study which should be completed by the end of 1987.
A program of diamond drilling carried out on the North Tin zone by Lac in 1986 will be continued in 1987 to define more accurately the extent, grade and characteristics of the mineralized zones.
Outokumpu Mines is engaged in various exploration projects with FinNeth and other joint venture partners. The company is concentrating most of its activities and expenditures in search of base and precious metals in Ontario, Quebec and the Maritimes.
Outokumpu has a joint venture interest in the Trout Lake copper- zinc mine operated by Hudson Bay Mining & Smelting and is also pursuing other joint-venture interests in advanced mining projects.
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