Montreal-based Cache Explorations (ME) is increasing its land position in Courville Twp., Que., where the company has been drilling a gold property optioned from Parquet Resources (TSE). Subject to regulatory approval, Cache is acquiring another 18 claims situated west of the Parquet property.
Under terms of the recent deal, Cache can earn a 100% interest in 18 claims held by Jean Lavallee in Courville Twp. To earn its interest, Cache must spend a total of $1 million on exploration over three years and make cash payments totalling $45,000, with Lavallee retaining a 1% net smelter royalty interest in the property.
Cache has also optioned another block of four claims in Pascalis Twp., immediately south of Courville Twp. That deal calls for the company to spend $25,000 on exploration and to make a $2,000 cash payment to earn 100% interest in the claims. The property is also subject to a 1% net smelter royalty.
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