An exploration agreement has been concluded by Teck (TSE) with Perrex Resources (ASE) and Gwen Resources (ASE), covering the latter companies’ gold property in northwestern Quebec. Teck can earn a 60% interest in 83 claims in Bradette Twp., held jointly by the two juniors, by spending $500,000 on exploration and making a cash payment of $20,000. The claims are about 10 miles west of gold mines owned by the Inco- Golden Knight joint venture.
A recent airborne electromagnetic survey by the provincial government has indicated a number of anomalies within the Perrex claim group. Ground geophysical surveys to outline the anomalies in greater detail have been completed, and drilling is scheduled for later this month.
Perrex also retains a small net smelter royalty interest in another group of northwestern Quebec claims recently optioned to Total Energold (TSE). Those claims are in Vezza and Cavalier twps.
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