Quebec exploration company Robex Resources (ME) is negotiating to acquire a controlling stake in its 25% owned Bateman Twp. property in Chibougamau, Que., after releasing results from a 9-hole drill program.
President Jean Luis Robert says he is hoping to reach an agreement soon with Bateman Bay Mining (ME) and Bateman’s Corporate Secretary Michael Galvin, the owners of the remaining 75% project interest. Shares of Bateman Bay were delisted from the Montreal Exchange last fall after the company failed to produce its financial statements.
Robex says reserves in the A zone to a depth of 811 ft., based on results from that drilling, stand at 396,665 tons averaging 2.6% copper and 0.12 oz. per ton over an average width of 7.6 ft.
The minimum width utilized by engineering contractor SIDAM Inc., was 4 ft. with a cutoff value equivalent to 0.12 oz. gold.
Drilling was conducted about 300 ft. east of the old Jaculet copper gold mine and indicates the existence of two more mineralized zones (the C and D zones).
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