An agreement has been signed between Jilbey Industries and Bay Resources and Services. The deal gives Bay the right to earn a 75% interest in Jilbey’s gold prospect in Duverny Twp., Que. Located near Amos, the property will be the site of a $500,000 exploration program. Bay must spend a total of $750,000 by Dec 31, 1988, in order to earn its interest.
This winter’s work will include 7,000 ft of diamond drilling, 1,000 ft of percussion drilling and geophysical surveys. A 46-ton bulk sample of quartz vein material mined out by Jilbey this year, assayed 0.25 oz gold per ton across 6 ft.
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