Macamic to explore Gateford chrome bet

A joint venture agreement has been completed between Gateford Resour ces and Macamic Resources which gives the latter company the right to earn a 50% interest in Gateford’s Reed-Belanger chrome deposit.

Located near Black Lake, Que., the chrome deposit has reserves of 440,000 tons grading 6%-8% chromite. Macamic, which can earn its interest by funding exploration at the property, plans to increase both reserves and grade. Exploration is expected to start this spring.