Ronrico Explorations is losing no time in getting work under way on its extensive interests in the Labrador Trough, the locale of a major new platinum play (N.M., Jan 26/87). For in addition to a direct 10% interest in the lead La Fosse Platinum Group Inc. ground, both Ronrico and closely associated Continental Research Exploration and Development have each acquired a 65-sq-km exploration permit in the Retty Lake sector from La Fosse, which retains a 1 1/2% net smelter return interest.
An airborne geophysical survey of these two adjoining permits has commenced, The Northern Miner learns from D. J. Kemp who heads both of these companies. They are located about 30 miles north of Schefferville.
There are 11 individuals participating in the main La Fosse project, which company is soon to go public with some major financing. But at this time the only two publicly traded participants are Ronrico (10%) and Tandem Resources (8%).
As well, there are now more than a dozen companies holding permits in that area, all of which were acquired from La Fosse (for cash, stock and retained royalty). These include Ayrex Resources, Cream Silver Mines, D’Or Val Mines, Gabriel Resources, Hughes Lang Corp., Hallenic Resources, Kangeld Resources, Levelland Energy & Resources, Maghemite Inc., Rise Resources Inc. and Tundra Gold Mines.
Mr Kemp also reports that diamond drilling is now under way on Ronrico’s claim group in Gaudet Twp. in northwestern Quebec. This work is a joint venture including Heenan-Senlac Resources and Continental Research.
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