Ayrex Resources reports the first phase of a 1986/87 winter program has started on its property in Desmazures and Cavalier twps., in the Casa Berardi gold camp, about 20 miles northeast of Joutel, Que.
Ayrex says this initial phase, consisting of linecutting, ground geophysics and 5,000 ft of diamond drilling, will be financed by Bresea Resources, under a joint venture agreement with that company. On its completion, Ayrex and Bresea will each hold a 50% interest.
The first diamond drill hole has been completed in this phase, as has linecutting and ground geophysics.
Meanwhile, Ayrex says, negotiations are under way to finance a subsequent program which will include linecutting, ground geophysics, about 30,000 ft of reverse circulation overburden drilling and 26,000 ft. of diamond drilling.
Budget for this phase is estimated at $2,234,000. It’s based on a report by H. E. Neil and Associates, which will continue to act as operators.
The new program will be shared equally between Ayrex and Bresea.
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