Tandem gears up for exploration

As a result of several agreements, this year is shaping up to be busy exploration-wise for Tandem Resources.

This Montreal- and Vancouver- listed company has entered into an agreement with Q.M.E. 1987 Mineral Exploration and Co. Limited Partnership providing for a minimum of $360,000 and a maximum of $1 million for exploration. A second agreement has also been entered into with CMP 1987 Resources Partnership and Co. providing for $1 million of exploration to be carried out on the company’s properties this year.

And MVP Exploration and Co. Limited Partnership has agreed to increase the amount of funding from the $500,000 reported in October to $1 million.

The additional funding will be expended in the Casa Berardi area on properties held by Ayrex Resources and Bresea Resources. Tandem will receive one Ayrex share for each 60 cents of expenditure and one Bresea share for every $1 of expenditure up to $250,000 to each of Ayrex and Bresea.

The agreement with Ayrex regarding the Frond Lake gold prospect near Fort Hope, Ont., which was also reported in October has been extended to June 30.

Tandem also says it will be acquiring the adjoining concession to the north of La Fosse Platinum in Quebec-Labrador at a cost of $12,000 plus 80,000 Tandem shares.

The company will also be funding $350,000 of exploration on a property held by Matt Berry Mines in the Moss Lake area of Ontario and will receive one Matt Berry share for every 50 cents of expenditure to be incurred before May 1.

All the above transactions are subject to the approval of the appropriate regulator authorities.