Audrey’s plan for 1100 lens worth $7.3 million

The board of directors of Audrey Resources (TSE) has approved a $7.3-million underground exploration and development program for the 1100 lens at the Mobrun property near Rouyn-Noranda, Que.

The program will consist of deepening the shaft to 2,500 ft. from 1,200 ft., underground infrastructure excavation, digging an exploration drift and performing 23,000 ft. of drilling.

Audrey’s partner in the project, Minnova (TSE), has agreed to contribute about $1.4 million for the work which will begin before the end of the year and take 18 months to complete. Audrey, controlled by Cambior (TSE), said it will use its own funds to finance its share of the program.