Montreal-based Canchrome Mines (ME) intends to earn a 51% interest in two gold and base metal properties from Bruneau Minerals (ME).
The Allard property consists of 76 contiguous claims in Desmazures Twp., where the geology is said to be similar to that of the Casa Berardi mine owned by Golden Knight Resources (VSE) and TVX Gold (TSE).
The Turgeron property, in Quebec’s Laberge Twp., consists of 125 contiguous claims and hosts potential gold and base metal mineralization. To earn the interest, Canchrome must spend $400,000 exploring either or both properties within two years. Bruneau will retain a 49% interest and a 1.5% net smelter return royalty. Canchrome plans to begin a $112,000 program immediately.
In other news, Bruneau is investigating whether it can market kaolin and silica from its St.-Jovite property, also in Quebec.
Be the first to comment on "NEWS ROUNDUP — Canchrome, Bruneau sign agreement"