Mazarin makes option deals

An option agreement has been signed between Societe d’Exploration Miniere Mazarin (ME) and Rio Algom (TSE) whereby the latter may earn a 60% interest in Mazarin property north of Amos, Que. To earn its interest, Rio must spend $1 million on exploration work during the next four years and make a cash payment of $80,000. The agreement is subject to approval by the proper authorities. Field work at the property is already under way.

Meanwhile, Mazarin and Societe d’Exploration Miniere Vior (ME) have reached an agreement with SOQUEM, the mining exploration arm of the Quebec government, whereby SOQUEM may earn a 50% interest in the Montgolfier and Raymond properties northwest of Joutel, Que.

To earn its interest in the properties, SOQUEM must spend $900,000 by Nov. 30, 1993. The option agreement is subject to the proper approval.