Financing required for the balance of this year’s exploration program has been completed, says Quebec-based Aunore Resources.
A private placement agreement has been concluded which will provide $1.242 million. This will be expended on exploration before the end of February, 1987.
This placement, along with $800,000 previously agreed to with Q-Vest 1986 Mining and Co., will provide full funding for the completion of this year’s program.
The funds are to be directed principally to the Elder mine project near Rouyn where a program of re-exploration and rehabilitation of the former mine is being conducted with joint venture partner Nova Beaucage Mines.
A portion of the funds is reserved for exploration of Aunore’s other properties in the Abitibi area of Quebec.
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