Minefinders Corporation (VSE) of Toronto says it has entered a joint venture agreement to explore and develop Greenstone Resources’ (TSE) Lada property near Chibougamau, Que.
The 57-claim property is adjacent to Campbell Resources’ (TSE) Joe Mann Mine which has reserves of 910,000 tons grading 0.225 oz gold per ton.
Under the agreement, Minefinders can earn a 50% interest by issuing to Greenstone 40,000 shares at $1.25 per share and spending $750,000 on exploration by Dec 31, 1991.
Minefinders is an exploration company with a number of prospects in western Quebec.
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