Partial dewatering by Cambior, Maufort

The first six levels of the former Siscoe gold mine in northwestern Quebec were dewatered during the recently completed first-phase of an exploration program being undertaken on the property by Cambior Inc. and Maufort Resources.

First-phase exploration costs totalled $6 million.

The companies have started on the second phase, budgeted to cost another $6 million, which will see the former mine completely dewatered and the shaft rehabilitated. Surface facilities now in place allow for the dewatering to the 19th level at a vertical depth of 2,500 ft.

The companies plan to explore the lower-most seven levels, where mining was hindered by poor ground conditions encountered in the shaft. The second-phase work is to be completed by the end of summer, 1988.

Cambior, project operator, is contributing 30% of the second- phase exploration costs, and Maufort the remaining 70%.

Cambior, which is earning a 50% interest in the project, has agreed to pay the next $7.4 million for exploration work. Each party will then have contributed $10.7 million.

In other news, Cambior says a planned expenditure in 1988 of $200,000 for Maufort shares has been postponed until 1989.

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