Eastmain and Falco join forces

Near the Kidd Creek mine in the Timmins, Ont., camp, Eastmain Resources (CDN) and Falconbridge (TSE) have formed a joint venture to explore a 96-hectare land package for base metals and gold.

Eastmain will manage the program and incur $65,000 in expenditures by the end of the year. The next $150,000 will be provided by Falconbridge, so as to maintain its 50% interest, and any subsequent work will be funded equally.

Eastmain had acquired a “veteran lot,” which is land held under a patent including surface, timber and mineral rights, and granted to veterans of the Boer War and the 1866 Fenian raids. Falconbridge held two unpatented mining claims adjacent to the lot. The land package is on the extension of a large magnetic anomaly over the Kidd Creek deposit, within Wark Twp., and ground electromagnetic surveys have detected conductors.