Riverton options Belleterre property

Riverton Resources has acquired an option to earn 100% of Brosnor Exploration’s interest in the former producing Belleterre gold mine in Guillet Twp., Que.

At the time of the mine’s closing in 1966, reserves of 515,000 tons grading 0.18 oz gold per ton remained, Brosnor says. These reserves are in the proven, probable and possible categories. Starting in early 1988, Riverton plans to begin a surface and underground exploration program. In addition to conducting exploration, Riverton must also pay Brosnor a $50,000 first year down payment and the balance of $825,000 over a 5-year period.

From 1936-1958, the Belleterre mine produced 2.4 million tons of ore grading 0.34 oz. On-site milling was at a rate of 350 tons per day.