An option agreement with Homestake Canada gives GeoNova Exploration (VSE) the right to earn interests in four properties in northwestern Quebec.
The junior may earn a 100% interest in each of the Noyon and Baptiste River properties and a 51% stake in each of the Desjardins and Gander properties. The properties, comprising 29 claims with a surface area of 6,049 hectares, lie northwest of Lebel-sur-Quevillon in the townships of Bruneau, Desjardins, Franquet and Noyon.
GeoNova plans to spend $1 million exploring Desjardins and $1.5 million on Gander during a 5-year period.
The agreement has yet to be approved by directors and regulators.
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