Minnova (TSE) plans to begin a 10-hole drill program next January on the company’s 9,500-acre claim group in the Rouyn-Noranda camp of northern Quebec. Golden Briar Mines (ME) retains a 10% cash flow royalty from the claims which increases to 49% as designated costs are recovered from the project.
Minnova has conducted extensive surface exploration work over the claims during the past year and has identified promising base metal and Silidor-type gold targets. The Silidor gold mine, which entered production this year, is close to the northwest boundary of the claim group.
“The property is still at an early stage, but we’ve identified several good massive sulphide targets,” said Dave Watkins, senior vice- president of Minnova.
He said the company’s geologists have found strong geological evidence for the existence of a new volcanic vent-dome complex on the property. Such vents are known to be associated with massive sulphide deposits elsewhere in the Rouyn camp.
The trading volume of Golden Briar shares has been increasing in recent months in anticipation of the winter drill program on the Rouyn claims.
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