Noble Peak gets Matagami claims

An airborne geophysical survey in under way on a large 531-claim pro perty acquired by Noble Peak Resources. Located in the Detour Lake-Matagami area of northern Quebec, the property straddles a 5-km long electromagnetic conductor believed to be associated with a geological unit favorable for hosting gold mineralization. The property lies east of the Samson River ground held by Gateford Resources on which a gold discovery was made in 1986.

In addition to the airborne work, Noble Peak is also using satellite data as an aid in structural interpretation. The property was acquired from Quill Resources which will receive 150,000 shares of Noble. A second payment of 150,000 shares and funding of a $500,000 drilling program, must be paid and completed under a prospectus by Aug 31, 1987.