Dejour explores in New Brunswick and in Quebec

In an interim report Dejour Mines says exploration and deferred exploration expenses for the first six months of 1986 totalled $93,466. The expenses relate mostly to work on Dejour’s properties in Poirier Twp., Que. Working capital at June 30 was $258,535.

Exploration work planned for the balance of 1986 in Quebec and New Brunswick is to be funded by other parties which will earn unvested interests in the related properties, Dejour says. Canacord Resources is raising funds to provide $505,000 this year for exploration work on the company’s properties at Melanson Brook, N.B., Beschefer Twp., Que., and Ste. Helene Twp., Que. This will earn Canacord the right to increase its interests in any or all of the subject properties by making further expenditures in 1987 and beyond. Work on these properties is to begin when Canacord’s financing is completed.

On the Poirer Twp. property, south of Joutel, Que., Dejour has entered into a conditional agreement with a Toronto-listed company which hasn’t been named. If that company is successful in raising flow-through funds, a $250,000 program will be carried out in 1986 by Dejour. The program would consist of line-cutting, EM and magnetic surveys as well as prospecting.u

On the Douay Twp. property, held equally by Dejour and Beaufield Resources, work will await completion of a diamond drilling program. The program will be carried out this year by Beaufield on its claims east of the Dejour- Beaufield claims. Inco Ltd. has begun work on the Inco-Soquem property that hosts a small undeveloped gold deposit 3.5 km east of the Dejour-Beaufield property.

On the Batchawana, Ont., property, Master Resources expects to have funds available for a fall diamond drilling program to test the potential of the gold-bearing zone discovered last year.

At the Sterling mine in Nevada, in which Dejour owns a 6% working interest, open pit operations resumed. It’s expected that up to 40,000 tons of ore will be extracted in this phase of the mine’s development, the company says. Total geological reserves of the Sterling mine are about 300,000 tons.