Mazarin, Dufresnoy conclude 2 deals

Two separate property deals in northwestern Quebec have been struck involving Mazarin Inc. and Dufresnoy Inc.

In the first deal, Mazarin has acquired an option to purchase a 50% interest in Teck Corp.’s Inmont property, located 10 miles northwest of Rouyn-Noranda, by spending $1.2 million on exploration work before June 30, 1990.

Mazarin, in turn, has given Dufresnoy an option to acquire a 25% interest in the property by spending $600,000 before July 1, 1988. (Should all the options be exercised, Teck will own 50%, Mazarin 25% and Dufresnoy 25%.)

Mazarin, the operator, plans a 15,000-ft drilling program starting this month. The company reports probable reserves of 40,000 tons on the property grading 0.33 oz gold per ton. A 325-ft shaft exists on the property. Previous drilling has also intersected copper values.

The second deal will permit Mazarin to acquire a 50% interest in the Union Mining-New Bidlamaque property near Val d’Or which Dufresnoy has optioned. Mazarin may earn its half interest by spending $2 million on exploration before March 1, 1990.

The property has a 300-ft shaft and contains probable reserves of 40,000 tons grading 0.23 oz, Mazarin reports. Dufresnoy will be the operator and is planning a 20,000- ft drilling program starting this month.