A program of geophysics, overburden drilling and 3,700 ft of diamond drilling is slated this year for Achates Resources’ 97-claim gold bet in Brongniart Twp. in the Chibougamau area of Quebec.
Here Achates, which is newly listed on the Montreal Exchange, has concluded arrangements with Corporation Falconbridge Copper whereby Achates has commited to 20% or $45,310 of the $226,500 of this year’s exploration budget.
Last year, two diamond drill holes into the main gold showing on the property returned 0.18 oz gold per ton over 5.5 ft and 0.26 oz over 4.9 ft.
Charles D. Robbins, president of Achates, says the company has applied to the ministry of energy and resources of Quebec for a grant and will receive up to $22,665 back from the government on its share of the diamond drilling.
On the company’s 57-claim property in Currie-Duplessis twps., Exploration Minaki can earn a 50% interest by spending $500,000 over a 3-year period, says Mr Robbins.
Minaki has already started a stripping program on an area 1,500 ft long by 150 ft wide. Limited diamond drilling is planned early this year on the property in order to test the anomalies and the gold found on surface at depth.
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