Ste-Genevieve to get interest in Quebec bet

Ste-Genevieve Resources reports it has entered into an agreement with the Norex (60%)-Cambior (40%) joint venture to acquire a 30% participating interest in the Waite- Camac base metal property straddling the Duprat-Dufresnoy Twp. line northwest of Noranda.

Ste-Genevieve says it must provide no less than $1.5 million in exploration funds to the joint venture prior to Mar 1st, 1988.

Norex will manage the exploration work first phase of which will consist of deep diamond drilling, at an estimated $500,000.

This program is mainly intended to investigate the mining potential of the relatively unknown “C Contract” Tuff Horizon and is expected to be terminated before the end of February.

Drill targets have already been outlined pursuant to geological, structural and geophysical compilation of all available technical data.