Taurus to bulk-sample Fenelon

An option agreement with Fairstar Explorations (FFR-T) sets the stage for International Taurus Resources (ITS-V) to carry out a bulk sample that could lead to a feasibility study of the Fenelon gold prospect in northwestern Quebec, 50 km east of the Detour Lake gold mine.

Taurus already holds a 27.2% interest in the project. This can be increased to 66.6% by completing the bulk sampling within 18 months. The company will fund the program but is entitled to any gold recovered.

If Taurus exercises its option to bring the project into production, both parties would share the costs and revenue on the basis of 66.6% Taurus and 33.3% Fairstar. If Taurus drops the option, the property reverts to Fairstar.

Fairstair, meanwhile, intends to continue efforts to find a partner to advance its wholly owned Subriso and Amantin gold prospects in Ghana. The junior recently diversified into non-resource ventures.