Partners Newfoundland Goldbar Resources (CDN) and Freewest Resources Canada (TSE) have contracted out 3,000 km of airborne geophysical surveying for their 19 properties in Labrador.
The work, now under way, will include electromagnetic and magnetometer surveys.
The properties, which total almost 50,000 hectares, are near Okak Bay in the Paradise River area, east of Goose Bay. Aeromagnetic maps and geochemical data covering the properties indicate the presence of ultramafic rocks associated with anomalous nickel-copper-cobalt in stream and lake-sediment geochemistry.
The partners plan to follow the surveying with geological work later this winter before beginning a diamond drill program after spring breakup.
Freewest, the operator in the joint venture, can earn a 60% interest by paying $300,000 cash to Newfoundland Goldbar and spending $3 million exploring the properties.
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