Eastmain Resources Inc., which holds interests in a large spread of ground in the East Main River gold area of northern Quebec owned by the “Opinaca Project,” reports that MSV Resources Inc. has now committed 1987 expenditures of $1,490,000 on two of the permit areas in which the Eastmain company holds a considerable stake. MSV had previously spent $1,090,000 to earn its option.
On completion of this expenditure MSV will have earned a 20% interest in what is known as the Clearwater permit and a 30% interest in the Westmain permit. These interests will be provided pro-rata by Eastmain and Westmin Resources from their respective vendor holdings.
Exploration plans for the coming season on the balance of the Opinaca Project holdings are currently being formulated, Eastmain’s President, E. M. Dillman, tells The Northern Miner.
The shares of Eastmain Resources were recently listed on the tse, while those of MSV Resources trade on the Montreal Exchange.
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