An option to purchase, for $1.5 million, the 50% interest of Mines Abcourt (ME) in the Bardome (Vendome) zinc property in Quebec’s Fiedmont and Barraute twps. has been granted Ressources Val d’Or (ME), Abcourt’s partner in the project. The deal is subject to Val d’Or paying off its $500,000 debt to Abcourt and regulatory approval. The sale price is payable in three $500,000 instalments, the final one due in 30 months.
Val d’Or has agreed to take for its account the Abcourt commitments to Noranda Exploration and Nord Exploration. Abcourt will retain a 2 1/2% royalty on any future production in excess of 500,000 tons.
Vauquelin results
A drill hole to below 1,500 ft. on the Bloc-Ouest property of Mines Vauquelin (ME) in Quebec’s Vauquelin Twp. intersected 0.16 oz. gold per ton over a true width of 38.4 ft., the company reports.
The intersection includes 10 ft. of 0.37 oz. The property sits next to the producing Chimo gold mine operated by Louvem Mines and Cambior Inc.
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