Ontex/Abcourt deal on Quebec property

A joint venture agreement has been completed between Ontex Resources and Mines Abcourt, giving the latter company the right to earn a 50% interest in a gold property.

Located in Barraute Twp., Que., the Ontex claims host modest reserves of 90,700 tons grading 0.33 oz gold per ton. The deepest intersection cut the zone at a depth of 425 ft.

Abcourt can earn its interest by spending $2 million over an 8-year period and making property payments to Ontex totalling $400,000 over a 5-year period.