Work on the first stage of a phase- two exploration program is expected to start shortly on the property of White-Guyat Mining in Munro Twp., north of Kirkland Lake, Ont.
President John White says the company has finalized arrangements for the completion of the phase two program. It has an agreement with Lac Minerals under which Lac will spend $500,000 in diamond drilling, in return for a 50% interest in the property, and a similar interest in certain claims held under option.
White-Guyat will also receive a 50% interest in a patented mining claim owned by Lac adjacent to the Munro Twp. holdings, he said.
The exploration program will be conducted in two stages, second of which must be completed before the end of 1988, White notes.
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